Credit, Collections & Insolvency News
A Welsh businessman, who was made bankrupt nearly 20 years ago, has been jailed for more than four years after hiding £130,000 in assets, continuing to operate as a company director, and obtaining more than £100,000 in credit. Helim Miah ran Fresh ‘N’ Clean (Wales) Ltd until 2006, when he was made bankrupt owing £12.3…
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A record number of companies are in “critical financial distress according to latest Red Flag Alert data, which shows that there are 49,309 firms on the brink of insolvency. The figures mark a 21.4% increase from a year ago. All 22 sectors surveyed reported a rise in ‘critical’ financial distress over the previous 12 months.…
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Latest Accountant in Bankruptcy figures have shown that business insolvency numbers (liquidations and receiverships) in Scotland for Q1 2025-2026 increased by 17.3% compared with Q1 2024-2025, to a total of 332. The number of business insolvencies (liquidations and receiverships) in Scotland for Q1 2025-2026 increased by 12.9% compared with the previous quarter’s total of 294…
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Latest figures revealed by the Insolvency Service show that £57.5 million has been returned to the UK economy in the past year, and over 69,000 people have been supported through emergency redundancy payments. The Annual Report and Accounts show that Insolvency Service Official Receivers handled 10,817 new insolvency cases during 2024-25 , this has resulted…
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Opus Restructuring & Insolvency has announced the appointment of Brendan Clarkson as a Partner. In his new role, Clarkson will lead Opus’ growing Credit Services offering, providing support to creditors and lenders pre- and post-appointment across the firm’s 14 regional offices. Joining with over 25 years’ experience in creditor services, having worked at several of…
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Latest figures from the Accountant in Bankruptcy (AiB) have shown that business insolvencies in Scotland fell by 4% in June 2025. The data showed that there were 105 business insolvencies registered in Scotland, 4% lower than the number in June 2024. The insolvencies comprised of 62 CVLs, 37 compulsory liquidations, five administrations and one CVA. There…
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Latest figures from the Insolvency Service have shown that the number of registered business insolvencies in England and Wales decreased by 8.4% to a total of 2,043 in June compared to May 2025’s total of 2,230, and decreased by 15.9% compared to June 2024’s figure of 2,430. The business insolvencies consisted of 332 compulsory liquidations,…
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The construction industry experienced the highest number of insolvencies in the 12 months to May 2025 at 4,056, making up 17% of all industry cases according to latest data from the Insolvency Service. Overtrading risk looms for construction amid housing and infrastructure drive Commenting on the data, Kelly Boorman, National Head of Construction at RSM UK,…
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Latest monthly statistics from the Insolvency Service show that business and personal insolvencies increased in Northern Ireland in June 2025. The data showed that there were 25 business insolvencies registered, 47% higher than in June 2024. The insolvencies comprised of 14 compulsory liquidations, seven CVLs, three CVAs and one administration. There were no receivership appointments. Personal insolvency…
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The Insolvency Service has announced ambitious and transformational plans to play a more prominent role in the fight against economic crime and be recognised as the UK’s leading authority in enforcing corporate and insolvency standards. The strategy commits the agency to broadening its remit, taking robust action against criminals who defraud businesses and taxpayers, and…
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As economic pressure mounts and further tax hikes loom, over half (54%) of small and medium-sized businesses (SMBs) say one more major cost hike could force them to shut down. The same number believe today’s economic climate is even more volatile than the Covid-19 crisis, according to research by Dext. The research shows that a year…
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In June, the following administration notices were issued and advertised in the London Gazette for the following companies: 79TH COMMERCIAL ONE LTD 79TH LUXURY LIVING FOUR LIMITED A B DEVELOPMENTS (YORKSHIRE) LIMITED AGFORM LIMITED AIDRIVERS LTD ALEGATUM LIMITED ALFRED CHARLES HOMES (BRACEY’S FIELD) LTD ALUFOLD DIRECT LIMITED ANDREW PLASTICS LTD APPLIANCE HOUSE LTD ARMADILLO MANAGED…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in June: 1903 HOOTON PAGNELL LTD 1950`S BOUTIQUE LTD 1ST FACILITY MANAGEMENT LIMITED 1ST RAPID MAINTENANCE LTD 2048 ORACLE CENTRE READING (LEASECO) LIMITED 2MW HEWORTH LTD 2XSTREAM LIMITED 3DM LEISURE LIMITED 3XPOINT LTD. 4 WALLS DEVELOPMENTS…
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