Credit, Collections & Insolvency News
The UK is set for a significant rise in business failures as firms readjust to life without government Covid-19 pandemic support measures, according to trade credit insurance firm, Euler Hermes. The underwriter forecasts that, compared to pre-Covid levels, UK insolvencies could increase by a total of +32% by the end of 2022, with more than…
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The Institute of Chartered Accountants in England and Wales (ICAEW) announced that it has appointed a new Vice-President. Malcolm Bacchus has been elected ICAEW Vice-President for 2022-23. He will take over the role from current Vice-President Mark Rhys in June 2022. Based in London, Bacchus is the principal of Baccma Consulting. He currently chairs the…
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Litigation funding specialists Apex Litigation Finance has announced the upcoming appointment of Mark Sands as Head of Insolvency. Sands will join the firm in January 2022, assuming overall responsibility for the company’s presence in the insolvency sector. Sands has more than 35 years experience in the insolvency profession, most recently in a senior role at…
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UK business insolvencies are set to rise 33% on pre-pandemic levels, according to new economic research by trade credit insurer Atradius. Contrary to initial expectations, the new Insolvency Forecast reports UK business insolvencies declined 27% in 2020 as a result of fiscal support schemes and anti-bankruptcy measures. As these measures continued in 2021, buffering businesses from…
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Regional accountancy and business advisor to SMEs, Azets has promoted Richard Monkhouse to Partner in its Kettering office. Monkhouse joined the firm’s Peterborough office in November 2014 before moving to the Kettering office in January 2021. He leads the team there on a range of external audits, including charities, owner manager business, UK and overseas…
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In September the following administration notices have been issued and advertised in the London Gazette for the following companies: 32 WELLINGTON LTD A F SMART REPAIRS LTD ADS JOINERY DESIGN LTD ADVANCIS LTD AGUA LONDON LTD ALLIED GLAZING SYSTEMS LTD ALTITUDE SELECT LTD ARTISAN GROUP FACILITIES MANAGEMENT LTD ARTISAN H1 LTD AVOCET FACULTIES LTD B…
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In September Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: ADVANCED INTEGRATED SERVICES LTD ASHFORD DEVELOPMENTS EAST ANGLIA LTD AVANTIS LIVING LTD BROAD ENVIRONMENTAL LTD CARTER HAYNES LTD CG NATION LTD CGB PROJECTS LTD COMMUNITY R4C LTD CONSTRUCTION ONE LTD D.EASY SERVICES LTD DPG CONCEPTS 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 September: 10 FLORA LDN LTD 100 PER SCENT LTD 100 WASP LDN LTD 110 HERO HELIPAD LDN LTD 11ING LTD 189 SCHOOLHOUSE LDN LTD 26RR FITNESS LTD 2PLUS2 CREATIVE LTD 3H ROOSTER LTD 3HREE 65…
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A third of small businesses are worried they will not be able to repay Covid loans, according to a poll by EY. The research found that 81% of UK SMEs said they were detrimentally impacted by the COVID-19 pandemic with 61% stating that their supply chain was compromised. Over half of companies (58%) reported a decline…
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Professional services firm Alvarez & Marsal (A&M) has announced that it has expanded its regional restructuring practice in Manchester with the appointment of a Managing Director. Michael Magnay joins the company’s Manchester team, which has grown rapidly since establishing an office in the city in 2018. It now comprises 19 people, two of whom are…
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The UK’s furlough support scheme, introduced in March 2020 and helped pay the wages of 11.6 million workers after Covid-19 forced large parts of the economy to close, is to end today (Thursday 30th September). HMRC figures indicated that at the end of July it was still supporting the incomes of around 1.6 million workers. The…
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Exports of goods in the Czech Republic have surpassed pre-pandemic levels, however, rises in insolvencies are expected according to tothe latest trading insight report by Atradius. The trade credit insurer’s new Czech Republic Country Report reveals total exports are forecast to rise 10.5% in 2021 following a marked decline of around 7% last year. Atradius…
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New data from the Registry Trust has indicated that 47% of businesses that became insolvent in May and June 2021 had an outstanding county court judgment (CCJ) against them. Whilst 78% of those who became insolvent with an outstanding CCJ had received their first CCJ within the previous 999 days. With the Insolvency Service’s latest…
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