Credit, Collections & Insolvency News
Small businesses across the UK are still chasing £14.9 billion in late payments resulting from goods and services they have provided, according to new research by Liberis. The study claimed that on average respondents were owed £11,000, which extrapolated to £14.9 billion across the UK’s 5.7 million small firms. The survey found that the amount…
Read more
The government has published interim findings from its airline insolvency review. The review set up in the wake of the collapse of charter operator Monarch last year includes changes to the insolvency regime Following the call for evidence, discussions at the public evidence sessions and initial analysis. Findings of the review so far include that: airline…
Read more
The Government has published its Brexit white plans on the future relationship between the UK and the European Union Commenting on the document Duncan Swift, Vice-President of insolvency and restructuring trade body R3, said “It’s encouraging to see the Government take post-Brexit cross-border insolvency issues seriously, and we welcome both the commitment to seek a…
Read more
Wilkins Kennedy LLP has been acquired CogitalGroup. The CogitalGroup UK regional business, Baldwins will merge with Wilkins Kennedy as part of the agreement. Wilkins Kennedy LLP, is a UK top 20 business services firm, with over 700 employees and partners and an annual turnover in excess of £54 million. The firm has 18 offices across London…
Read more
Aaron & Partners LLP has announced that it has appointed Stephen Taylor to join its Dispute Resolution and Insolvency team as a Senior Partner. Nick Clarke, Partner and Head of Dispute Resolution & Insolvency, said “Stephen’s appointment is a significant one for us as a firm and a real statement of intent for the Dispute Resolution…
Read more
Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: (EN) 10 (GLOBAL) LTD 1PK LTD 24/7 RESCUE AND RECOVERY UK LTD 3B VISION LTD 3G TOOLING LTD A.S.T. DEVELOPMENTS LTD A1 DEMOLITION LTD A1 HARPREET CONSTRUCTION LTD ABC EVENTS (SCOTLAND) LTD ACCESS SECURE SCAFFOLDING LTD ACM FACILITIES…
Read more
Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies: 108 ENTERPRISES LTD 1ST CHOICE FLOORING AND BLINDS LTD 1ST EQUITY LTD 2 ADVANCED IT LTD 300 TRADING LTD 312 SW3 LTD 3D’S LETCHWORTH LTD 3NINE GROUP LTD 4 SEASONS STORE LTD A & R GENERAL BUILDERS…
Read more
Administration notices have been issued and advertised in the London Gazette for the following companies: 1ST CALL RECRUITMENT LTD A2B LOGISTICAL LTD ABBEVILLE INSTRUMENT CONTROL LTD ADAM MICHAEL SCAFFOLDING SERVICES LTD ADM PRECISION LTD AL-UMMAH HALAL POULTRY LTD ALLABOUT CLEANING SPECIALISTS LTD ANBO INTERNATIONAL LTD B & W LOGISTICS LTD BARWELL FINISHERS LTD BAXENDEN DEVELOPMENTS LTD…
Read more
Debt levels among Britain’s listed companies have hit a record high according to new research by Link Asset Services. Link Asset Services’ Debt Monitor report has revealed that listed companies’ debt has increased 69% since 2010/11, with oil companies seeing the fastest increase. The report measures the level of debt taken on by the UK’s…
Read more
New Research from Moore Stephen has indicated that 153 estate agents have gone insolvent in the last year, up from 148 the year before, as the pressure from online rivals continues to increase. More than 7,000 UK estate agents currently show signs of financial distress. Even larger estate agents look to be feeling the strain, with…
Read moreJust over half of all technology and IT companies in Scotland are at higher than average risk of insolvency in the next 12 months, according to new research from insolvency and restructuring trade body R3. The percentage of IT companies in the negative band (50.1%) in June 2018, equating to 5,600 firms, is a steep…
Read more
Over a quarter (26%) of UK companies have suffered a hit to their finances following the insolvency of a customer, supplier or debtor in the last six months, according to new research from R3, the insolvency and restructuring trade body. The research found the financial impact of the insolvency of another business was described as…
Read more
House of Fraser has announced that it has gained approval from its creditors to enter into a Company Voluntary Arrangement (CVA) which will see the closure of 31 of its 59 department stores and the loss of around 6,000 jobs. Landlords for the company have indicated their dissatisfaction with the plans and say they may…
Read more