Credit, Collections & Insolvency News
Harrington Brooks has announced on its website that it has that its Debt Management Plan (DMP) portfolio has been transferred to Gregory Pennington from HB Financial Solutions Limited (Harrington Brooks). In addition, IVA portfolios have been transferred to Freeman Jones Limited which were managed by One Advice Limited, trading as Harrington Brooks IVA. As part…
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Sixteen shops are closing on the high street every day. The rate has doubled in a year, with the retailers blaming a perfect storm of rising prices, online competition and a slump in consumer confidence according to research by PwC. New figures compiled by PWC and Local Data Company, a retail analytics company, have shown…
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Insolvency accountancy firm Thomas Westcott has appointed Jon Mitchell as a new Partner. Mitchell was recruited in 2015 as a director to launch and head our business recovery and insolvency service. Thomas Westcott’s chairman, Richard Thomas, said “Jon has performed superbly since he joined us, launching and growing our business recovery and insolvency service and…
Read moreCreditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies: (E) EXCLUSIVE LTD 100% VEGAN LTD 191 CIVIL ENGINEERING LTD 1EASYCALL LTD 1ST 4 CONSTRUCTION LTD 1ST CITY MOVE LTD 1ST DRYWALL SOLUTIONS LTD 21 SPICES LTD 3 NATIONAL SECURITY LTD 3E PEOPLE PERFORMANCE LTD 3J WHOLESALE…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 09247906 LTD 10294997 LTD 123 RENTALS LTD 360 LOCATIONS LTD 4 PROPERTIES LTD A. GULEC CONTRACTORS LTD A.P.L.E. (OXFORD) LTD A&O CONSULTANCY LTD ABBA NORTH EAST LTD ACA A LTD ACCESSORY TRADING LTD ACCIDENT LAWYERS LTD ACCRUED EQUITIES…
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Administration notices have been issued and advertised in the London Gazette for the following companies: A TEAM DISTRIBUTION LTD AAA LINEN SUPPLIES LTD AB ABRASIVES LTD ABRASIVE BLADES LTD ACORN FIT OUT LTD AGE CONCERN NEWCASTLE UPON TYNE ALMAREN HOMES (ANGLIAN) LLP ALMAREN HOMES (CAMBRIDGE) LTD ALMAREN HOMES LTD ALMAREN LTD ALPHA BUILDING SERVICES (SOUTH) LTD…
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Half of businesses have faced issues with late payments in the last year, a new survey of 787 company directors reveals. The poll by the Institute of Directors shows that 3 in 10 business leaders see ‘excessively bureaucratic payments system’ as the main reason for late payment and just over a fifth said it was…
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Corporate recovery and business advisory firm Quantuma has announced that it has acquired south coast insolvency practice.Ashtons Business Recovery. The teams will continue to operate through its Ringwood and Weymouth offices, with all of its existing team of seven, as part of Quantuma. David Meany was one of the founder partners of the original practice…
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Problems with late invoice payments are affecting around one in eight Scottish firms, according to new indicative research by insolvency and restructuring trade body R3. The latest edition of R3’s regular Business Distress Index, which looks at measures of business success and distress across the UK, indicates that 12% of firms in Scotland are currently…
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The Government has announced plans to improve the UK’s corporate governance framework to ensure the UK remains one of the best places to start and grow a business. The rules include: Directors selling companies recklessly to face tough new sanctions including fines and disqualification Creditors could have money returned to them by reversing inappropriate asset stripping…
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Proposed reforms that would allow high court enforcement officers and certificated enforcement agents to enforce small sum County Court Judgments and Consumer Credit Act judgments have been put to the Government in a joint industry submission. The joint submission by the High Court Enforcement Officers Association (HCEOA) and the Civil Enforcement Association (CIVEA) has been…
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A new report by Coface has indicated that here was an 8.3% drop in the number of French business insolvencies to 53,414 cases over one year in January 2018, which is the lowest since October 2008. Their cost to the economy is experiencing a double-digit drop: -15.2% for supplier debt (3.2 billion euros) thanks to…
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Pre-pack administrations are continuing to side-step measures to stop the abuse of the current insolvency system, according to new research by Moore Stephens. Just 23 pre-pack sales were referred for scrutiny in 2017 by the Pre-Pack-Pool, the independent review body designed to help stamp out abusive pre-packs – down from 49 in 2016. A pre-pack…
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