Credit, Collections & Insolvency News
Figures from the British Business Bank and Beauhurst show that investment in UK small businesses hit a record high last year, with equity investment up 9% to £8.8bn. SMEs continued to draw investment in Q1 2021, with £4.5bn raised in the first three months of the year. Catherine Lewis La Torre, CEO, British Business Bank,…
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Almost 200,000 travel jobs already lost or at risk due to the pandemic according to new analysis from ABTA which estimates that 195,000 people working in the UK travel industry have either lost their job or are at risk of losing their job. The Association is reiterating its calls for the UK Government to provide…
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The Government has announced that a ban on landlords evicting firms for unpaid commercial rent is being extended for another nine months. The ban, which stops landlords from taking tenants to court for non-payment, was due to end on 30th June. The Government says that the extension to the order will give places such as…
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The Government has announced the extension of temporary insolvency measures which includes the restrictions on issuing of winding up petitions and statutory demands. The change to the regulations will mean restrictions on statutory demands and winding up petitions will remain for a further three months until 30th September 2021. The measures were introduced in the…
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The Lending Standards Board (LSB) says banks must urgently improve the way they apply a code that reimburses bank transfer scam victims. The LSB warned of systemic failings and said firms must work without delay to ensure the best outcomes for customers. It has written to the Chief Executives of banks which have signed up…
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Nearly half of companies have said that they were lucky to have survived 2020 according to new research by Intrum. The research as part of Intrum’s sixth UK edition of the European Payment Report 2021 also found that companies have also taken the opportunity to tighten payment terms and focus on liquidity. However, most businesses…
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Latest analysis of payment transactions by UK Finance has found that contactless now accounts for more than a quarter of all payments. The 2021 Payment Markets Report, an analysis of all forms of payments over 2020 showing the impact the Covid-19 pandemic and resultant lockdowns had on the nation’s payments behaviour which indicated that for…
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Half of all business to business (B2B) credit sales in Asia are overdue, according to the latest Payment Practices Barometer from trade credit insurer Atradius. Many Asian businesses polled in the region are feeling the pinch of the global pandemic recession with around 40% of respondents pessimistic about the outlook for their Days Sales Outstanding…
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Latest figures from the Insolvency Service have indicated that personal insolvency numbers across England & Wales fell by 14% in May 2021. Personal insolvencies numbers fell to 8,482 when compared to April’s figure of 9,864, and were 38.7% lower than May 2020’s figure of 13,838. The figures show that there were 1,525 DROs and 718 bankruptcies.…
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Latest figures from the Insolvency Service have indicated an 8.8% increase in business insolvencies in England and Wales when compared to April’s figure of 929, and increased by 6.9% compared to May 2020’s figure of 946. The figures show that business insolvencies increased to 1,011 in May 2021 compared to April’s figure of 929, and increased…
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Scottish personal insolvencies figures continued to decline in May 2021 according to the latest figures released by Accountant in Bankruptcy (AIB), Scotland’s Insolvency Service which administers company liquidations and receiverships in Scotland. The figures showed that there were 7,215 personal insolvencies in the 12 months to May 2021 (inclusive), 5,423 (42.9%) fewer than in the…
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Latest figures released by Accountant in Bankruptcy (AIB) have indicated that Scottish business insolvencies rose by 46% in May 2021. The figures show that there were 51 business insolvencies registered in Scotland, this was 46% higher than in May 2020 but 35% lower than in May 2019. This was comprised of eight compulsory liquidations, 37…
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Latest statistics from the Insolvency Service have shown that Northern Irish personal and business insolvencies numbers increased in May. In May 2021 there were seven business insolvencies registered in Northern Ireland, 40% higher than in May 2020 but 83% lower than May 2019. This comprised of one compulsory liquidation and six CVLs.. There were no…
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