Credit, Collections & Insolvency News
The number of pubs and bar insolvencies soared last year, with the sector hit by rising costs and falling sales according to research by UHY Hacker Young. Insolvencies of pub and bar companies have increased by 83% in the past year, from 280 in 2020/21 to 512. Energy prices have soared and hit pub companies’…
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Annual quarterly figures from the Insolvency Service have shown that there were 22,109 business insolvencies in England & Wales in 2022. This was an increase of 57.3% from 2021’s figure of 14,059, an increase of 75% on 2020’s figure of 12,632, and an increase of 28.8% on 2019’s figure (17,164). One in 202 active companies…
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In January the following administration notices have been issued and advertised in the London Gazette for the following companies: 4 SEASONS BEER TENT CO LTD ACCOUNT TECHNOLOGIES SOFTWARE LTD ADDSPACE FURNITURE LTD AIMROK LEICESTER INVESTMENT LTD ATMOSVR LTD BDBUILD LTD BLUEFISH OFFICE PRODUCTS LTD BLUESPOT FURNITURE LTD BOXVN LTD BRIERSTONE LTD BRINKLOW MARINA LTD BRIT-POL…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in January: 0001AG LTD 21ST CENTURY CONTRACTS LTD 2A PILATES LTD 3 G HOMES LTD 3STYLE SCOOTERS LTD 4 SITE CONSTRUCTION LTD 4C GROUP LTD 4SI HEALTH LTD 5D BIOMASS LTD 5QTECH LTD 917521 LTD A…
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In January Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 11 MANOR ROAD LTD ABS RESTORATION LTD AEROSAX RESEARCH & TECHNOLOGY LTD AFRICA SHIPPING SERVICES LTD AGENDA RECRUITMENT LTD AJL PLANT HIRE LTD AL LAW & ASSOCIATES LLP ALL ASPECTS FIRE PROTECTION LTD ALPHA-ONE SECURITY SERVICES…
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Latest quarterly figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales increased by 30%. After seasonal adjustment, the number of business insolvencies in Quarter 4 (Q4) 2022 was 7% higher than in Q3 2022 and 30% higher than in Q4 2021. The number of CVLs remained close…
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Latest quarterly figures from Accountant in Bankruptcy (AiB) have indicated that business insolvency numbers (liquidations and receiverships) in Scotland increased by 19% when compared with Quarter 4 2021. In Quarter 4 2022, there were 313 total company insolvencies in Scotland, the highest number since Quarter 4 2011. The business insolvencies comprised 83 compulsory liquidations, 212…
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Latest quarterly statistics from the Insolvency Service have indicated that Northern Irish personal insolvencies and business insolvencies increased in Quarter 4 (Q4) of 2022. The figures showed that there were 50 business insolvencies in Northern Ireland in Q4 2022, an increase of 56% from the same quarter of 2021. The insolvencies comprised 39 CVLs, four…
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The Insolvency Service is now banning, on average, 35 directors per month for Covid Support Scheme abuse, almost treble the 12 per month banned in the previous year according to new data analysis from Mazars. The analysis shows that in the nine months of the 2022/23 year to date (1st April – 31st December 2022),…
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The Director of a Scaffolding firm claimed £50,000 Bounce Back Loan by inflating company turnover, then transferred funds for personal use has been given a 11 year ban by David McGuinness of the Sutton Coldfield area of Birmingham, was sole director MC-Dalt Scaffolding Services Ltd, which was incorporated in 2017 with its registered office in…
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Latest quarterly figures from Accountant in Bankruptcy (AiB) have indicated that business insolvency numbers (liquidations and receiverships) in Scotland increased by 13.3% compared with Q3 2021-2022. The number of corporate insolvencies (liquidations and receiverships) in Scotland for Q3 2022-2023 increased by 0.7% compared with the previous quarter (July-September 2022). Commenting on the Scottish Insolvency Statistics,…
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The number of companies in critical financial distress increased by a third (36%) in the last three months of 2022, according to figures from insolvency firm Begbies Traynor’s Red Flag Alert data. Businesses are struggling at an increasing rate as a combination of legacy Covid debt, inflation and greater pressure on consumers who are reining…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales were 32% higher than in the same month in the previous year (1,489 in December 2021) and 75.5% higher than December 2019 (1,119). Business insolvencies fell 3.25% in December 2022 to a total of 1,964 compared to…
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