Credit, Collections & Insolvency News
Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in February: 19LUKASZ87 LTD 28-82 LOGISTICS LTD 2B DESIGN GROUP LTD 34 DESIGN COMPANY LTD 360 GROUP OF COMPANIES LTD 365 CAMPERS LTD 36C HARRINGTON GARDENS LTD 3R FILMS LTD 4G LED LTD 4USUPPORT LTD 624…
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In February Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 624 AUTOS LTD 66 SUTHERLAND LTD A & Y F SOU LTD A FRESH START LTD A H ROOFING LTD A L TOWNSEND BUILDING & LANDSCAPING LTD A&A FINANCIAL CONSULTANCY LTD A&D BUILD LTD AASEM &…
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Two separate company directors who dissolved their businesses to take covid loan scheme money have received a combined ban of 22 years from the Insolvency Service. A takeaway owner from Oldham and company director from Kings Langley in Hertfordshire falsely claimed Bounce Back Loans totalling around £69,000 before dissolving their companies. Rukia Begum, from Oldham,…
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630,000 small and micro businesses could go bust this year, as the cost-of-living crisis puts unprecedented pressure on entrepreneurs trying to stay afloat according to new research by website builder GoDaddy Data analysis of 2.3 million British micro businesses revealed that more than one in nine (12%) fear closure before the end of 2023, which…
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Audit and advisory group, Azets specialising in supporting SME businesses has entered the Irish market for the first time following its acquisition of Baker Tilly Ireland, which will rebrand as Azets Ireland with immediate effect. Azets says that aims to grow the firm in Ireland significantly in the next three years. As part of its growth…
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A total of 1,340 businesses filed for administration in 2022, a 56% increase compared to 2021, according to analysis by full-service law firm Shakespeare Martineau. Construction, manufacturing and retail were the sectors worst hit, accounting for 39% of administrations. Greater London led the way with 20% of the filings, followed by the South East and…
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John Pye Auctions has announced the appointment of Chris Eckersley as its Head of Northwest Valuations. In his new role, Eckersley will be responsible for carrying out valuation work and disposals across the region, including plant, machinery, and business assets. In addition to broadening new and existing client relationships within the corporate recovery sector, Chris…
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New data from Mazars, the international audit, tax, and advisory firm, shows that the HMRC tried to shut down 440 companies in the last quarter over unpaid tax debts, a 46% increase from the 301 that it tried to close the previous quarter. Michael Pallott, Partner at Mazars says that the number of winding-up petitions can…
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Retail experts at business advisory firm Quantuma has estimated that business failures in the retail sector could spike by as much as 71% in 2023. The Centre for Retail Research reported that in the first month of 2023 alone, seven retailers failed, impacted 361 stores and putting at risk 3,215 jobs. Quantuma Chief Executive, Carl…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales rose by 6.6% in January 2023. The number of registered business insolvencies in January 2023 was 1,671 was 6.6% higher than in the same month in the previous year (1,567 in January 2022), and 11% higher than…
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Latest figures from Accountant in Bankruptcy (AiB) have indicated that business insolvency numbers (liquidations and receiverships) in Scotland nearly doubled in January 2023. The figures showed that there were 109 company insolvencies registered in Scotland, 114% (2.1 times) higher than the number in January 2022 and 51% higher than in January 2020. This business insolvencies…
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Restaurant company insolvencies in December of last year were the highest in at least four years says Mazars, the international audit, tax and advisory firm. 188 restaurant companies became insolvent in December 2022, 71% more than the 110 companies that failed in December 2021 and the highest monthly number of insolvencies in the sector since…
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A company director has received a ten year from the Insolvency Service td after wrongly claiming a £50,000 loan. Thomas Whyte claimed £50,000 Bounce Back Loan for a dormant Scottish restructuring business, and withdrew cash before the firm was wound up. Whyte was the sole director and shareholder of Fortress Restructuring until it was wound…
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