Credit, Collections & Insolvency News
Analysis of the latest insolvency statistics by RSM UK has found that the construction industry experienced the highest number of insolvencies in the 12 months to May 2024, reaching a total of 4,287. Overall data for June 2024 showed that the number of registered company insolvencies in England and Wales was 2,361, 16% higher than…
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Latest figures from the Insolvency Service have shown that there were 2,361 business insolvencies in England & Wales in June 2024, 16% higher than in May 2024 (2,040) and 17% higher than the same month in the previous year (2,016 in June 2023). The insolvencies consisted of 302 compulsory liquidations, 1,866 creditors’ voluntary liquidations (CVLs),…
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London and Leeds-based insolvency and restructuring firm, PKF Littlejohn Advisory, has announced it has appointed Jonathan Burke as a Senior Insolvency Administrator. Burke joins the team with four years of experience in corporate insolvencies and restructuring, He will support the PKF Littlejohn Advisory team in the restructuring, sale or liquidation of businesses in need of…
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UHY Hacker Young has announced that it has promoted Skevi Iacovou to Director in the turnaround and recovery department at national accounting group. Iacovou first joined UHY Hacker Young in 2010 as a graduate and has been working in the Turnaround & Recovery team for over ten years. She specialises in corporate insolvencies of owner…
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A court has wound up a Manchester firm which offered unlicensed Insolvency Practitioner (IP) services. Save Consultants Ltd claimed to provide insolvency practitioner services when none of its current or former directors were licensed. Its actions risked undermining the insolvency regime and the company’s directors refused to explain its trading practices to investigators The company…
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The number of insolvencies of pub and bar companies has jumped 30% in the past year, from 602 insolvencies in 2022/2023 to 784 insolvencies in 2023/24 (year end April 30), according to research by UHY Hacker Young. Pub and bar insolvencies continued to rise over the last year with fewer and fewer people willing or…
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In June the following administration notices were issued and advertised in the London Gazette for the following companies: A T PROMOTIONS LTD A.B. GROUP PACKAGING UK LTD AC LANDSCAPES & TREEWORKS UK LTD ACG HOLDCO LTD ADVANCED ONCOTHERAPY PLC BALBY HEALTH-CARE LTD BOWIE CONSTRUCTION LTD BRANDON TRADECO LTD BROWSIDE LTD BUSINESS DOCTORS FRANCHISING LTD CARTWRIGHT…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in June: (UK) WELDEX LTD &OFFICES EUSTON LTD £AITH PROPERTY LTD 06473722 LTD 09288376 LTD 1 BIG DADDY LTD 10 HELMSLEY PLACE LTD 134 RADCLIFFE ROAD LTD 13957821 LTD 15 BISHOPSGATE TENANT LTD 1GS SERVICES OL…
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In June, Winding Up Petitions (Companies) were issued and advertised in the London Gazette for the following companies: 10M GROUP LTD 13168375 LTD 18 – 19 BUCKINGHAM GATE CONSTRUCTION LTD 1989 GROUP LTD 20/21 ART FAIR LTD 2ND GENERATION FACADES LTD 4 SEASONS MEDICAL CENTRE LTD 638 GREEN LANES LTD A.G.S CASTINGS LTD A.L. MEDICAL…
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A total of 879 UK businesses filed for administration in the first six months of 2024 – a 42% and 16% increase compared to 2022 and 2023 respectively, according to analysis by full-service law firm Shakespeare Martineau. Retail, manufacturing, construction, real estate and hospitality were the worst-hit sectors for the second year in a row,…
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The Insolvency Practitioners Association (IPA) have announced that Paul Smith, their Chief Executive Officer will stand down from his role later this year. Smith joined the IPA in 2021 after a distinguished career in financial services. The IPA says Smith has made significant contributions over the past three years. Under his leadership, the IPA responded…
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Latest figures from the Insolvency Service have shown that there were 2,006 business insolvencies in England & Wales in May 2024, a decrease of 6% when compared to April 2024 figures (2,144) and 21% lower than the same month in the previous year. The business consisted of 271 compulsory liquidations, 1,590 creditors’ voluntary liquidations (CVLs),…
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Latest figures from Accountant in Bankruptcy (AiB) have shown that business insolvencies in Scotland increased by 22% in May 2024. In May 2024 there were 118 business insolvencies registered in Scotland, 22% higher than the number in May 2023. The insolvencies comprised of 71 CVLs, 43 compulsory liquidations and 4 administrations. There were no CVAs and no…
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