Credit, Collections & Insolvency News
Business advisory firm Quantuma has completed a merger with Scotland’s leading independent insolvency provider WRI Associates. The acquisition will see Quantuma take on WRI’s office in Glasgow, headed by partner, Ian Wright, and its 8 members of staff. The firm will operate under the Quantuma brand. WRI is an insolvency and restructuring practice, providing independent…
Read moreInsolvency and Restructuring trade association R3 has announced that it has appointed Liz Bingham OBE as it new Chief Executive Officer (CEO). Bigham joins R3 after a 35-year career in the insolvency and restructuring profession, during which she was a Managing Partner at EY, and was R3 President in 2013-14. Bingham replaces Emma Lovell, who…
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The Financial Conduct Authority (FCA) has announced that Cash on Go, trading as Peachy.co.uk and Uploan.co.uk, has been placed into administration. Cash on Go is a high-cost short term lender, otherwise known as a payday lender, which lends small sums to customers until the next payday or up to 12 months. Adam Stephens, Gilbert Lemon…
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Professional services group Knights, which has offices across the Midlands, has exchanged contracts to acquire two law firms. The firm has agreed to acquire Leeds-based independent Shulmans for a total consideration of £20.1 million and Crawley and Maidstone-based commercial law firm ASB Law (which also encompasses ASB Aspire) for up to £8.5 million. Knights Group…
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UK law firms Moore Blatch and Barlow Robbins have agreed to merge, creating a new regional powerhouse firm with a significant geographic footprint across the South East. The merger has been approved unanimously by the two firms’ respective partnerships. Set to begin trading as Moore Barlow from 1st May, the new firm will comprise 70…
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In February, the following administration notices have been issued and advertised in the London Gazette for the following companies: ADVANCED FIRE SOLUTIONS LTD AIM ENGINEERING LTD ALLARD CONSTRUCTION LTD ALYSSUM HOLDINGS LTD API FOILS HOLDINGS LTD API FOILS LTD API GROUP LTD API GROUP SERVICES LTD API HOLOGRAPHICS LTD API LAMINATES LTD API-STACE LTD APPLE…
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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: 08165909 LTD 1 JAC LTD 1A INSTALEC LTD 1ST BED GUEST HOUSE LTD 2 X 2 LTD 389LOG LTD 6 MUSTARD LTD 786 EXPRESS LTD 7985433 LTD A 1 DOMESTICS LTD A A WHOLESALE…
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In February, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 36 DESIGNER BRANDS LTD A J ENGINEERING CONSULTANTS LTD A J W (VEHICLE SERVICES) LTD A P CONTRACTORS (UK) LTD A.P.D.J. LTD AA HOME GROUP LTD ABBEY HEALTH CARE LTD ABLE STAFFING LTD ABSOLUTE FENCING &…
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The UK’s largest insolvency regulator, the Insolvency Practitioners Association (IPA), has announced that it will introduce new unprecedented measures to regulate new and dynamic areas of the insolvency market. The Association has produced its first benchmark report on its new Scheme, which was implemented in January 2019, to regulate Insolvency Practitioners who operate large volumes…
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Late payments from customers are ‘business as usual’ for many small business owners in difficulty, according to new research from the Money Advice Trust, the charity that runs Business Debtline. The free business debt advice service helped more than 52,400 self-employed people and other small business owners last year. Nearly half (45%) of callers to…
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Last year, during 2019, The Insolvency Service an agency of The Department for Business, Energy and Industrial Strategy paid out a total of £346.11 million from the National Insurance Fund to former members of staff as a result of their employer entering into either administration, liquidation, a CVA or another form of corporate insolvency according…
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A debt collection agency has been wound up after it misled clients over services it had promised to deliver and failed to account for money collected for its clients. Redwood Business Management Ltd, based in Newcastle upon Tyne was wound-up in the public interest on 3rd February 2020 at the High Court in Manchester before…
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Overseas businesses who bought goods and services from UK companies in 2019 paid more invoices late and took longer to settle their bills. The latest MarketFinance Business Insights1 examined over 11,000 invoices to these businesses to understand the trading relationship between UK businesses and the UK’s top ten trading partner countries2 (United States, Germany, Netherlands,…
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