Credit, Collections & Insolvency News
The latest Lloyds Bank Business Barometer shows that overall business confidence dropped by one point to 39% as firms highlighted continuing concerns about the pandemic and rising costs. The survey captured responses between 4th January and 18th January before the easing of work from home guidance by the UK governments and shows price expectations reached…
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Optimum Finance has announced the appointment of Mike Stevens as Regional Director. Stevens, re-joins the team at Bristol-based specialist invoice finance provider from Peak Cashflow. Optimum has invested heavily in its team in 2021 with 14 new hires, including the expansion of its technology team by 350%. This rapid growth has resulted in Optimum being…
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The Financial Conduct Authority (FCA) has appointed Direct Line Group CEO, Penny James, as Chair of its Practitioner Panel. James who has been a member of the Panel since September 2020, will take up the post from 1st March 2022. She succeeds Paul Feeney, CEO of Quilter. The FCA Practitioner Panel is an independent statutory body…
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Households are spending up to 77% of their income to cover the rental cost of living according to latest property market analysis by London lettings and estate agent, Benham and Reeves. The research shows that the average UK rental household pays £808 per month in rent, accounting for 26% of total monthly household income. The…
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Annual person insolvency figures statistics for England and Wales from the Insolvency Service have indicated that there were 110,022 personal insolvencies in 2021, a fall of 1.4% on 2020’s figure of 111,578, and a fall of 9.9% compared to 2019 (122,155). The number of bankruptcies in 2021 was 31% lower than in 2020 and 48%…
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Annual business insolvency figures statistics for England and Wales from the Insolvency Service have indicated that there were 14,048 underlying corporate insolvencies in 2021, an increase of 11.2% from 2020’s figure of 12,634, but a fall of 18.2% on 2019’s figure (17,166). The increase compared to 2020 was driven by the highest annual number of…
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Latest statistics from the Insolvency Service have indicated that Northern Irish business insolvencies increased the latest quarterly figures. In December 2021 there were 81 individual insolvencies in Northern Ireland, 48% lower than in December 2020, and 42% lower than December 2019. This consisted of 63 IVAs, 11 DROs and seven bankruptcies. There were 32 company…
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Over half of the UK’s remaining small energy suppliers are at imminent risk of collapse, according to Price Bailey analysis. Of the 22 gas and electricity suppliers left outside of the so-called ‘big six’, 12 companies have negative assets on their balance sheets meaning they are technically insolvent and at risk of collapse. city trade…
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Here is an overview of The Money Charity’s latest statistics for January 2022 Personal debt in the UK People in the UK owed £1,754.3 billion at the end of November 202 The average total debt per household, including mortgages, was £63,122 and per adult was £33,169, around 108.6% of average earnings Net mortgage lending rose by…
Read moreOver half a million businesses are struggling financially amid soaring inflation and the rollback of government Covid-19 support according to Begbies Traynor’s Red Alert analysis. A total of 589,168 businesses reported financial distress in the final quarter of 2021, a five per cent jump compared to the previous three months. Begbies says that the data…
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The ONS has released crime figures with reported crimes to the National Fraud Intelligence Bureau from Action Fraud, Cifas and UK Finance that showed there were 5.1 million fraud offences in the year to September 2021, up 36% from two years earlier with 26% of victims lost money that was never paid back. The statistics…
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Bristow & Sutor Group has announced it has partnered with digital technology transformation specialist, Andrew Slade. Slade has 23 years of experience in IT architecture roles in blue-chip environments, with expertise in both hands-on solution design as well as Head of Architecture team leadership. He has a renowned track record in helping major private and…
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The Payment Systems Regulator (PSR) has published its initial remedies consultation for its card-acquiring market review. Every time somebody makes a card payment, for example, when buying their weekly groceries, the merchant uses card-acquiring services to accept the payment. These services are critical to the UK economy because they enable consumers and businesses to use their…
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