Credit, Collections & Insolvency News
Regional accountancy and business advisor to SMEs, Azets has boosted its expansion plans for the Thames Valley team, based in Newbury and Reading, with the appointment of Neil Elsden as Accounts and Business Advisory Partner in the Newbury office. Since qualifying in 2000, Elsden has advised a wide range of businesses from startups to corporates…
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Almost two-thirds (63%) of Irish SMEs are finding it difficult to access credit, creating a barrier to economic recovery according to figures from the latest quarterly Linked Finance SME Confidence Index, based on research conducted by Behaviours & Attitudes. Even with increased support for Irish SME businesses throughout the pandemic via payment breaks and loan…
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Ofgem has confirmed that two small energy retailers have become the latest suppliers to exit the market. Whoop Energy and Xcel Power have announced they are ceasing to trade. Whoop Energy supplies 262 unique customer accounts, gas and electricity, 50 domestic and 212 non-domestic. Xcel Power has 274 unique customer accounts, gas only, and all…
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Foundation Home Loans, the intermediary-only specialist lender, has announced the appointment of two Managing Directors within the business with George Gee becoming Managing Director (Commercial) and Kelly Pallister as Managing Director (Operations). Gee has been with Foundation for six years in a variety of roles, most recently as Commercial Director. He had previously been with…
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The extension of cost-of-living costs is impacting three-quarters of households new ONS fortnightly data has revealed. In the first half of February, 76% of people said their cost of living had risen in the previous month, up from 69% in the second half of January. The most common price rise they mentioned was the increasing…
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Sigma Connected, a provides customer contact services for the finance, utilities, telecommunications and retail sectors, has announced that it is celebrating a 10-year partnership with credit card and personal finance specialist Vanquis, part of the Provident Financial Group, by taking on a new and additional contract to provide customer services to oversee the firm’s credit…
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A new global survey has found that businesses using spreadsheets for cash management are twice as likely to have a high number of overdue invoices according to new research by Sidetrade. The research revealed that 42% of finance teams still heavily reliant on spreadsheets reported a high ratio of late payments overall (15%). Conversely, this…
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The hospitality sector has urged the Chancellor to extend VAT support beyond April, with industry body UKHospitality saying the pandemic had resulted in almost nearly £115bn of lost sales for its businesses since March 2020. The sector was hit first and hit hardest by coronavirus, the sector has racked-up £114.8bn sales lost versus what was…
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Dancerace has announced that it has strengthened its commitment to customer service with new Account team members. Louisa Templeton joins the company’s UK team as Product Specialist. Formerly of Aldermore Bank, Nucleus Commercial Finance and Bibby Financial Services, Templeton also brings 18 years of finance experience to the company. Alison Lawrence joins the company’s Australian…
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Latest figures from UK Finance have indicated that cash is no longer king as contactless card use figures have soared. The figures showed that contactless payments increased by 83% for credit cards and 56.2% for debit cards. Whilst there were 2 billion debit card transactions in November 2021, 29.5% more than the same month last…
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Latest figures from Accountant in Bankruptcy (AiB) has indicated that business insolvency numbers (liquidations and receiverships) in Scotland increased in January. In January 2022 there were 51 company insolvencies registered in Scotland, 122% (2.2 times) higher than January 2021 and 30% lower than in January 2020. The insolvencies comprised of 14 compulsory liquidations, 34 CVLs…
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Credit management and debt recovery company Credit Style says demand for legal services has increased sharply over the past 12 months and is showing no sign of slowing down. The company says that the average number of legal actions they have commenced on behalf of clients has grown significantly from just over 13,000 cases to…
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Hodge Bank has announced that it has appointed Rob Regan as its new Chief Operating Officer. Regan brings a wealth of experience to the role having previously held roles as Chief Operating Officer at Legal & General (L&G) and Group Operations Director at Royal London Group. In his most recent role, Regan was Chief Executive…
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