Credit, Collections & Insolvency News
In February Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 624 AUTOS LTD 66 SUTHERLAND LTD A & Y F SOU LTD A FRESH START LTD A H ROOFING LTD A L TOWNSEND BUILDING & LANDSCAPING LTD A&A FINANCIAL CONSULTANCY LTD A&D BUILD LTD AASEM &…
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630,000 small and micro businesses could go bust this year, as the cost-of-living crisis puts unprecedented pressure on entrepreneurs trying to stay afloat according to new research by website builder GoDaddy Data analysis of 2.3 million British micro businesses revealed that more than one in nine (12%) fear closure before the end of 2023, which…
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A total of 1,340 businesses filed for administration in 2022, a 56% increase compared to 2021, according to analysis by full-service law firm Shakespeare Martineau. Construction, manufacturing and retail were the sectors worst hit, accounting for 39% of administrations. Greater London led the way with 20% of the filings, followed by the South East and…
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New data from Mazars, the international audit, tax, and advisory firm, shows that the HMRC tried to shut down 440 companies in the last quarter over unpaid tax debts, a 46% increase from the 301 that it tried to close the previous quarter. Michael Pallott, Partner at Mazars says that the number of winding-up petitions can…
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Retail experts at business advisory firm Quantuma has estimated that business failures in the retail sector could spike by as much as 71% in 2023. The Centre for Retail Research reported that in the first month of 2023 alone, seven retailers failed, impacted 361 stores and putting at risk 3,215 jobs. Quantuma Chief Executive, Carl…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales rose by 6.6% in January 2023. The number of registered business insolvencies in January 2023 was 1,671 was 6.6% higher than in the same month in the previous year (1,567 in January 2022), and 11% higher than…
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Latest figures from Accountant in Bankruptcy (AiB) have indicated that business insolvency numbers (liquidations and receiverships) in Scotland nearly doubled in January 2023. The figures showed that there were 109 company insolvencies registered in Scotland, 114% (2.1 times) higher than the number in January 2022 and 51% higher than in January 2020. This business insolvencies…
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Restaurant company insolvencies in December of last year were the highest in at least four years says Mazars, the international audit, tax and advisory firm. 188 restaurant companies became insolvent in December 2022, 71% more than the 110 companies that failed in December 2021 and the highest monthly number of insolvencies in the sector since…
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The number of pubs and bar insolvencies soared last year, with the sector hit by rising costs and falling sales according to research by UHY Hacker Young. Insolvencies of pub and bar companies have increased by 83% in the past year, from 280 in 2020/21 to 512. Energy prices have soared and hit pub companies’…
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Annual quarterly figures from the Insolvency Service have shown that there were 22,109 business insolvencies in England & Wales in 2022. This was an increase of 57.3% from 2021’s figure of 14,059, an increase of 75% on 2020’s figure of 12,632, and an increase of 28.8% on 2019’s figure (17,164). One in 202 active companies…
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In January the following administration notices have been issued and advertised in the London Gazette for the following companies: 4 SEASONS BEER TENT CO LTD ACCOUNT TECHNOLOGIES SOFTWARE LTD ADDSPACE FURNITURE LTD AIMROK LEICESTER INVESTMENT LTD ATMOSVR LTD BDBUILD LTD BLUEFISH OFFICE PRODUCTS LTD BLUESPOT FURNITURE LTD BOXVN LTD BRIERSTONE LTD BRINKLOW MARINA LTD BRIT-POL…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in January: 0001AG LTD 21ST CENTURY CONTRACTS LTD 2A PILATES LTD 3 G HOMES LTD 3STYLE SCOOTERS LTD 4 SITE CONSTRUCTION LTD 4C GROUP LTD 4SI HEALTH LTD 5D BIOMASS LTD 5QTECH LTD 917521 LTD A…
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In January Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 11 MANOR ROAD LTD ABS RESTORATION LTD AEROSAX RESEARCH & TECHNOLOGY LTD AFRICA SHIPPING SERVICES LTD AGENDA RECRUITMENT LTD AJL PLANT HIRE LTD AL LAW & ASSOCIATES LLP ALL ASPECTS FIRE PROTECTION LTD ALPHA-ONE SECURITY SERVICES…
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