Credit, Collections & Insolvency News
In February the following administration notices have been issued and advertised in the London Gazette for the following companies: 07567003 LTD ASPIRE 4 TECHNOLOGY GROUP LTD BABBAGE CONSTRUCTION LTD BE LOGICAL UK LTD BEEGOOD ENTERPRISES LTD BIOTECHNICA SERVICES LTD BIRMINGHAM APEX HOUSE CENTRE LTD BOTTLING INTERNATIONAL LTD BOXCOM NETWORK SERVICES LTD BRAND HOUSE HOLDING LTD…
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In February, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 1ST STEPS QUALITY & TRAINING LTD A G EDWARDS & SON DEMOLITIONS LTD ARCHITECTURAL CERAMICS LTD ASTONCOM LTD BELMONT TRADING UK LTD BLACKWOOD & SON LTD BOND STREET LINKS LTD BUILDTRUE (2008) LTD ELLIS WALLS AND…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in February: @SHANTERZ LTD 1 TRANSPORT SOLUTIONS LTD 126SKIN LTD 3000 PROPERTY SERVICES LTD 53035 LTD (FORMERLY PILLBOXCAPITAL 3 LTD) A & N ENIGMA ENGINEERING LTD A B PERFORMANCE LTD A PERFECT FLOOR (TW) LTD A.D.S…
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New figures released by the Insolvency Service indicate that £453.4 million was paid out in missing wages and benefits to workers at firms that went bust last year, the highest total in a decade. The money comes from the National Insurance Fund, going to former members of staff as a result of their employer entering…
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Nearly 12,000 licensed premises have closed in the UK since December 2019, at an average of around 30 per day, the highest rate on record according to new research released by CGA and AlixPartners. The figures indicate the full toll of pandemic and lockdowns on hospitality. While 4,170 new sites have been recorded since December…
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Peer to Peer lender, The House Crowd has entered administration. On 24th February, the Directors of The House Crowd, a regulated Peer-to Peer firm, placed the company into administration and appointed Frank Ofonagoro, Jeremy Woodside and Frank Wessely of Quantuma Advisory as joint administrators. The House Crowd, formed in 2012, operated a Peer to Peer…
Read moreThe Government has announced plans to amend legislation around the future of pre-pack administrations, The legislation is the next stage in their efforts to improve stakeholder confidence in connected party pre-pack administrations and follows their announcement in October 2020 that they would introduce a number of reforms to this important business rescue tool. A key…
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Governance and risk specialist Duff & Phelps has announced plans to transition the company name to Kroll. The company says that the new name and logo represent the firm’s rich history and breadth of services, delivering transparency, trust and objectivity to clients. Jacob Silverman Chief Executive Officer of Duff & Phelps, now Kroll said “This marks…
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Latest statistics from the Insolvency Service have shown that business insolvencies in England & Wales decreased by 39.1% to 752 in January 2020 compared to December’s figure of 1,235, and were 50.4% lower than January 2020’s figure of 1,515. Overall, numbers of registered company insolvencies have remained low since the start of the first UK…
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Scottish business insolvencies in January 2021 fell by 68% when compared with January 2020 numbers. The figures released by Accountant in Bankruptcy (AIB), Scotland’s Insolvency Service which administers company liquidations and receiverships in Scotland showed that there 23 company insolvencies this 68% lower than in January 2020. The insolvencies comprised of 12 compulsory liquidations and…
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Latest statistics from the Insolvency Service have shown that personal and business insolvencies continue to remain low in comparison to previous years. There were 96 Individual Insolvencies In January 2021 which were 62% lower than January 2020; this consisted of 74 IVAs, 11 DROs and 11 bankruptcies. In January 2021 there were three company insolvencies…
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New research from Sage, has highlighted the impact of the Covid-19 pandemic with the average SME business now burdened with £173,000 additional debt per year. Ahead of the UK’s 2021 Budget and Economic Recovery Plan, the research highlights the tough conditions that will be facing small and medium-sized businesses (SMEs) well into the second half…
Read moreRestructuring and insolvency specialists Greenfield Recovery has announced that it finalised the acquisition insolvency practice Cirrus Professional Services. Cirrus Professional Services was established by ICAEW-licensed insolvency practitioner Simon Gwinnutt. Gwinnutt has over 30 years of restructuring and insolvency experience, both corporate and personal. Cirrus Professional Services has historically undertaken client assignments from professional referrers, such…
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