Credit, Collections & Insolvency News
Energy companies, Neon Reef and Social Energy Suppl, have announced they are ceasing to trade, meaning that 21 energy suppliers have collapsed since the start of September. Neon Reef supplies around 30,000 domestic electricity customers, and Social Energy Supply supplies around 5,500 domestic customers. Under Ofgem’s safety net, customers’ energy supply will continue and funds…
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Interpath Advisory has announced that Peter Collini, Founder of corporate finance business Riverhill Partners has joined the firm as of 1st November 2021 as a Managing Director. During a career spanning more than 30 years, Collini has personally led over 70 financial restructuring and debt financing transactions with a combined value of over £20 billion,…
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Savants Restructuring and Savants Covenant Advisory have appointed Quantuma to oversee their own administration with immediate effect. The company has ceased to trade with immediate effect, after Adrian Duncan, a sole practitioner and Director of Savant, had his insolvency licence withdrawn by the Insolvency Service. Carl Jackson and Michael Hall of business advisory firm Quantuma…
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Financial advisory business, Interpath Advisory has announced the promotion of Sarah Collins promoted to Managing Director and Lucy Brocklebank to Director. The promotions come as part of a wider round which saw 35 colleagues promoted across the business. Collins is an experienced advisor and insolvency practitioner, having worked at Interpath (formerly KPMG’s UK Restructuring practice)…
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New research from CompanyDebt has predicted an incoming wave of business failures among the UK’s construction sector. The report says that supply and demand in the global energy market have pushed prices to a record high this month in what industry pundits are called a ‘perfect storm.’ Energy prices are now over 250% higher than…
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In October the following administration notices have been issued and advertised in the London Gazette for the following companies: ACCENTHANSEN LTD ACHIEVEMENT FOR ALL (3AS) LTD AE AEROSPACE LTD AVPE DURHAM LTD AVRO ENERGY LTD BARLOW’S (PROPERTIES) LTD BBS GRANITE CONCEPTS LTD BISHOPSGATE CONTRACTING SOLUTIONS LTD BLUE MARBLE HOLDINGS LTD CAPITAL DATA MANAGEMENT LTD CAPITAL…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in October: (JAS) THE HOUR GLASS LTD 102 COUTURE LTD 1A AUTOSCREENS LTD 1ST CHOICE SKIP & GRAB HIRE LTD 2020 LEISURE LTD 247 GT LTD 29 PRODUCTS LTD 2PLAY INC LTD 360PIC LTD 4.T.W.C. LTD…
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In October Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: ALBION CONSULTANTS UK LTD ALE PILING LTD ANCESTORS OF DOVER LTD ASHTON WOOD LTD BARNSTAPLE ESTATE PROPERTIES LTD BRYANT HOUSE LTD BUILD MODULAR LTD CFL FINANCE LTD CHAPPELL CREST LTD COOKSON DEVELOPMENTS LTD DRAGON FIRE SYSTEMS…
Read moreBusiness advisory firm Quantuma has appointed Robert Beat as managing director to its growing London team. Beat joins the firm with over 30 years’ experience in the insolvency industry, having previously worked at Baker Tilly Creditor Services, part of the RSM UK Group, for the past two decades. He also led and set up insolvency…
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A jump in creditors using court action to recover debts has sparked fears of a surge in insolvencies, with the 21,764 county court judgments lodged against companies in the three months to the end of September marking a 51% increase on the previous quarter. The latest red flag research for Q3 2021 from Begbies Traynor,…
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Recent changes to laws around insolvency could cause major problems for suppliers according to Bishop & Sewell. The London law firm is recommending that companies proactively review their commercial relationships and, where necessary, take steps to re-negotiate contracts and reduce their exposure to creditors. George Marques, a Senior Associate Solicitor in Bishop & Sewell’s Corporate…
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Legal and professional services business Knights has announced the launch of its debt advisory services, making it the first UK legal services business to establish a specialist debt advisory offering. Knights’ specialist debt advisers act independently from lenders, offering clients a unique proposition whereby they can receive both debt and legal advice from one trusted…
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Business energy supplier. CNG Energy has announced they are ceasing to trade after almost three decades supplying power to non-domestic customers. The company, which served around 41,000 businesses, is the sixth supplier to exit the market so far this week and the 22nd to enter the supplier of last resort process this year. Under Ofgem’s…
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