Credit, Collections & Insolvency News
The majority (55%) of UK SMEs are being paid later as a result of the pandemic in a trend that is threatening the economic recovery, according to research by Bibby Financial Services (BFS). More than a third (36%) of SMEs have seen payment times increase by more than three weeks, while 28 per cent have…
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The Insolvency Service has published its latest figures which indicate that in July 2020 that there were ten company insolvencies in Northern Ireland down from 21 in July 2019, this consisted of seven CVLs, one CVA, one administration and one compulsory liquidation, the first compulsory liquidation in Northern Ireland since the implementation lockdown on the…
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Trade credit insurer Atradius has analysed the impact of the coronavirus pandemic on five Asian markets in its latest series of country reports. The new reports detail the economic impact within India, Japan, Indonesia, Thailand and Vietnam, revealing economic contraction, sharp swings in export rates and a rise in business insolvencies. As part of the…
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The Insolvency Service has published its latest figures which indicates that in July business insolvency numbers in England and Wales increased by 29% when compared to June 2020 but are 34% lower than in July 2019. The figures show that there were 955 company insolvencies in July 2020. comprising of 590 creditors’ voluntary liquidations (CVLs),…
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The Insolvency Service has published its latest figures which indicate that in July 2020 there were 52 company insolvencies in Scotland, a reduction of 46% in comparison to July 2019. This comprised of 20 compulsory liquidations, 28 CVLs and four administrations. There were no company voluntary arrangements or receivership appointments. Historically the volume of company…
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The UK economy shrunk by a fifth and fell into its deepest recession on record in the second quarter. Official data released by the ONS confirmed a 20.4% fall in GDP quarter on quarter. The contraction followed a 2.2% dip in the first quarter, sending the country into a technical recession. In Germany, GDP fell…
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In July the following administration notices have been issued and advertised in the London Gazette for the following companies: 1ST CHOICE SCAFFOLDING (ISLE OF WIGHT) LTD 4-14 SPURSTOWE TERRACE LLP AERO TECHNICS AVIATION LTD AERO TECHNICS LTD AERO TECHNICS SERVICES LTD AIRBASE INTERIORS LTD AL REALISATIONS LTD ALBANY BRENT LTD ALPHA TECHNOLOGY (INT) LTD AMCO…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in July. 06472896 LTD 1313 BATH LTD 1489 CONSTRUCTION LTD 2 B FITNESS LTD 3K BUILDERS LTD 5 STAR SERVICES READING LTD A T P CONTRACTORS (MIDLANDS) LTD A WASTE SOLUTION LTD ABC HEALTHCARE & CONSULTANCY…
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In July, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 05034293 LTD 4MATION.SOLUTIONS LTD A. MORREY DISTRIBUTION LTD AESTHETIC COSMETIC LTD AFTERTHOUGHT GROUP LTD ALE TRADING LTD ALPHAMED REPORTING LTD AMIK PROPERTY INTERNATIONAL LTD ANDY MCNAIR BUILDING & MAINTENANCE LTD ASPEN GREEN ADMINISTRATION LTD BEAUFORT ASSET…
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Companies House has announced that it will resume the compulsory strike-off process from 10th October 2020. In announcement Companies House that it will resume the process to strike off companies that it believes are no longer carrying on business or in operation. In April 2020, Companies House introduced temporary easement measures in response to coronavirus…
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More than three-quarters of hospitality businesses in the UK are at risk of insolvency within 12 months, according to new research by UKHospitality. A survey by the trade body, in partnership with CGA, showed that one in five firms are at significant risk of insolvency, or expect insolvency, within a year. Over half of businesses…
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County Court Judgments (CCJs) registered against businesses England and Wales fell by nearly 30 percent in the first half of 2020 (H2 2020), compared to the same period in 2019, according to figures released by Registry Trust. The number of CCJs against businesses fell from 65,724 in HY1 2019 to 46,117 in HY1 2020. This…
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The total amount of debt registered against Scottish businesses in the first half of 2020 fell by 13 percent according to figures released by Registry Trust. The number of decrees against Scottish businesses also fell by 13 percent, from 1,140 to 990. The total value of decrees against businesses saw a large fall of 47…
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