Credit, Collections & Insolvency News
Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales in April 2024, increased by 18.4% than in March 2024 (1,838) and 5.4% higher than the same month in the previous year (2,193 in March 2023). The number of registered business insolvencies totalled 2,177. The business insolvencies…
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A director who failed to explain £800,000 spend on company vehicles and keep proper accounts has been sentenced. The Construction company director did not keep up-to-date accounts, Eugenijus Nalivaika was the sole director of Niki Contractors Ltd when it entered liquidation in May 2021 Niki Contractors spent more than £800,000 on 106 vehicles in a…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales in March 2024, was 17% lower than in February 2024 (2,177) and 17% lower than the same month in the previous year (2,193 in March 2023). The number of registered business insolvencies totalled 1,815 with insolvencies comprising…
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Latest figures from Accountant in Bankruptcy (AiB) have shown that business insolvencies in Scotland rose by 11%. In March 2024 there were 115 company insolvencies this was 11% higher than the number in March 2023. The insolvencies comprised of 44 compulsory liquidations, 62 CVLs, and 9 administrations. There were no CVAs or receivership appointments.
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A Cumbrian man who pleaded guilty to fraud, disregarding a director disqualification and breaching a bankruptcy order has been jailed. Adam Kirkbride was sentenced to four years in prison when he appeared at Newcastle Crown Court. Kirkbride, of Cobble End, Bassenthwaite, Keswick, was also further banned as a director until April 2036. The 32-year-old abused…
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Ex-England and Liverpool footballer John Barnes banned as company director. The former Premier League footballer and international manager disqualified as director for three-and-a-half years. Barnes has been banned as a company director after his company did not pay tens of thousands of pounds in both VAT and corporation tax. The company, of which Barnes was…
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An IT Consultant has been given 13-year directorship ban by the Insolvency Service after hiding the existence of one when his company went into liquidation. The Consultant. applied for two Bounce Back Loans but failed to disclose the existence of the first loan to liquidators. Syzmon Jastrzebski was the sole director of E Marketing Ltd, a…
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Data from Price Bailey has revealed that 769 pubs were forced to close their doors permanently, marking a significant 48% increase from the 518 closures in 2022, the highest number in over ten years. The surge in insolvencies underscores the growing pressures on the pub sector, with the total count dropping to 38,175 from 41,015…
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Latest figures from Accountant in Bankruptcy (AiB) have shown that business insolvencies in Scotland rose by 9%. In February 2024 there were 94 company insolvencies registered in Scotland, 9% higher than the number in February 2023. The business insolvencies comprised of 33 compulsory liquidations, 58 CVLs, and three administrations. There were no CVAs or receivership…
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Latest monthly statistics from the Insolvency Service have shown that business insolvencies doubled and personal insolvencies increased in Northern Ireland in February 2024. The data showed that there were 26 company insolvencies registered in Northern Ireland, twice as many as (100% higher than) in February 2023. This was comprised of nine CVLs, 14 compulsory liquidations, and…
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In February the following administration notices were issued and advertised in the London Gazette for the following companies: 60 CURZON STREET DEVELOPMENTS LTD A TO B DIRECT LTD A. & S. CARPETS & VINYLS LTD A1 COMMS LTD ACACIA (PB) LTD ACP IP HOLDINGS LTD AQUADART BATHROOMS LTD ARRIVAL AUTOMOTIVE UK LTD ARRIVAL UK 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 February: 1 LANDMARK BUILDERS LTD 11097893 LTD 111 HEALTHCARE LTD 129 MOSELEY LTD 13 BAR LTD 1371 LTD 16 CTR LTD 17 CTR LTD 1787 DESIGN LTD 1POUND ISLAND LTD 1ST CALL RECRUITMENT (LINCOLN) LTD…
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In February Winding Up Petitions (Companies) were issued and advertised in the London Gazette for the following companies: 10TEN TALENT LTD 2 INNOVATIVE (LEIC) LTD 2020 HOMES LTD 31 HARLEY STREET LTD 38 EASTBURY AVENUE DEVELOPMENTS LTD 4XL PROFESSIONAL SERVICES LTD A & R PIKE INTERIORS LTD ABILO JOINERY LTD ADANA MANAGEMENT GROUP LTD ADL…
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