Credit, Collections & Insolvency News
New analysis by Mazars has found that the number of insolvencies by retailers has increased 19% in the past year to 2,195 in 2023/24 up from 1,843 in 2022/23. High profile retail insolvencies include The Body Shop in February, as well as fashion brand Ted Baker and online luxury fashion retailers MatchesFashion and Farfetch. Cautious…
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In March the following administration notices were issued and advertised in the London Gazette for the following companies: ABCDE1 LTD ADAMO PROPERTY GROUP LTD AIRSUPPLY SOLUTIONS LTD ALAN GORDON ENGINEERING CO. LTD ALLOUISON INVESTMENTS LTD ALUCRAFT SYSTEMS LTD ALUTOOL (PREFORM DIE) CO. LTD ANNA VALLEY LTD APEX HOMES (RIPON) TWO LTD APP TECH PRODUCTIONS LTD…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in March: A.B.J.Z DRIVER HIRE LTD 06864659 LTD 10TEN TALENT LTD 10TH MAN MEDIA LTD 157 US LTD 19 MUSIC LTD 1ST CHOICE HOME IMPROVEMENTS LTD 1ST FOR CARE LTD 2 STARS TANDOORI LTD 214 LTD…
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In March Winding Up Petitions (Companies) were issued and advertised in the London Gazette for the following companies: 1A1Z LTD 1LETA LTD 2 SISTERS LEICESTER LTD 778 CONSTRUCTION LTD A & G QUALITY RETAILERS LTD A S ELECTRICAL SERVICES (SOUTHERN) LTD A S SUPPORT LTD A STAR COMMUNICATIONS LTD A.B.C>CONCRETE DIRECT LTD A.S.E. DESIGN AND…
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Midlands-based accounting and advisory firm PKF Smith Cooper (PKFSC) has acquired West Midlands insolvency boutique BLB Advisory. BLB’s Director and owner Brett Barton and seven team members will join PKF Smith Cooper as part of the acquisition. The acquisition will see the PKF Smith Cooper team gain a further 80 years of experience and expertise…
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Data from Price Bailey has revealed that 769 pubs were forced to close their doors permanently, marking a significant 48% increase from the 518 closures in 2022, the highest number in over ten years. The surge in insolvencies underscores the growing pressures on the pub sector, with the total count dropping to 38,175 from 41,015…
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Wylie & Bisset, Accountants and Business Advisers, is forecasting an explosion in the number of winding up orders and company insolvencies as HMRC tackles a massive backlog of debt by enlisting private debt collectors to pursue billions of pounds in unpaid taxes. Under Chancellor Jeremy Hunt’s proposals, as part of a major crackdown spearheaded by…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales in February 2024 totalled 2,102, this was 17% higher than in the same month in the previous year (1,801 in February 2023). Of the 2,102 registered business insolvencies 1,707 CVLs, which is 12% higher than in February…
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Latest figures from Accountant in Bankruptcy (AiB) have shown that business insolvencies in Scotland rose by 9%. In February 2024 there were 94 company insolvencies registered in Scotland, 9% higher than the number in February 2023. The business insolvencies comprised of 33 compulsory liquidations, 58 CVLs, and three administrations. There were no CVAs or receivership…
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Latest monthly statistics from the Insolvency Service have shown that business insolvencies doubled and personal insolvencies increased in Northern Ireland in February 2024. The data showed that there were 26 company insolvencies registered in Northern Ireland, twice as many as (100% higher than) in February 2023. This was comprised of nine CVLs, 14 compulsory liquidations, and…
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Almost 5,000 retail chain stores were left empty last year, according to research by the Local Data Company and PwC. The data showed a 33% increase in net closures compared to the previous year. The rise in closures amounts to about 14 store closures each day, with the closure of Wilko greatly contributing to the…
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The restructuring and insolvency arm of PKF has appointed former Chief Executive of the Chartered Institute of Credit Management (CICM), Philip King, as an Advisor as the business looks to further expand its business operations. King, who also served on the Joint Insolvency Committee (JIC) between 2011-2020 and was the JIC’s first ever Lay Chair,…
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In February the following administration notices were issued and advertised in the London Gazette for the following companies: 60 CURZON STREET DEVELOPMENTS LTD A TO B DIRECT LTD A. & S. CARPETS & VINYLS LTD A1 COMMS LTD ACACIA (PB) LTD ACP IP HOLDINGS LTD AQUADART BATHROOMS LTD ARRIVAL AUTOMOTIVE UK LTD ARRIVAL UK LTD…
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