Credit, Collections & Insolvency News
The Government has announced that Ofwat will be abolished and will b e replaced by one single water regulator responsible for the entire water system. In a speech at Kingfisher Wharf, the Secretary of State for the Environment, Steve Reed pledged to strengthen regulation, clean up the country’s s rivers and protect the public from…
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Consumer confidence in the UK has reached its lowest point in over a year, primarily due to Labour’s tax increases, which have led to rising prices and job losses. According to Deloitte’s index, household confidence has not been this low since early 2024, coinciding with a four-year high in unemployment at 4.7% and inflation rising…
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Opus Restructuring & Insolvency has announced the appointment of Brendan Clarkson as a Partner. In his new role, Clarkson will lead Opus’ growing Credit Services offering, providing support to creditors and lenders pre- and post-appointment across the firm’s 14 regional offices. Joining with over 25 years’ experience in creditor services, having worked at several of…
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The Financial Conduct Authority (FCA) has published a package of reforms to the mortgage market rules to support borrowers to find it easier to remortgage, saving time and money. The FCA says that under the new changes, borrowers will find it easier to reduce their mortgage term, helping to lower the total cost of borrowing…
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UK-listed companies issued 59 profit warnings during Q2 2025, a 20% rise compared to the same period last year (49), according to EY-Parthenon’s latest Profit Warnings report. The leading factor behind profit warnings during the second quarter was policy change and geopolitical uncertainty, cited in nearly half (46%) of warnings. This marked a significant increase…
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British businesses are struggling to cover expenses, pay debts and invest in their businesses, as half have said cash flow is an issue for them (49%), with one in ten (10%) businesses admitting it is a significant issue, according to research from Shawbrook. 46% say their cash flow issues are primarily driven by an increase…
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Latest figures from the Accountant in Bankruptcy (AiB) have shown that business insolvencies in Scotland fell by 4% in June 2025. The data showed that there were 105 business insolvencies registered in Scotland, 4% lower than the number in June 2024. The insolvencies comprised of 62 CVLs, 37 compulsory liquidations, five administrations and one CVA. There…
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Firstsource Solutions, a global provider of specialist domain-led Business Process Services (BPS) and an RP-Sanjiv Goenka Group company, has announced that it has signed an agreement to acquire Pastdue Credit Solutions, a prominent UK-headquartered debt-collection business serving finance companies, including banks, utility firms, telecoms companies, and government bodies. The acquisition is subject to Financial Conduct…
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A video game composer and sound designer who fraudulently applied for a Covid loan has been jailed. Peter Connelly, best known for his work on the Tomb Raider series, overstated his company’s turnover to obtain a second Bounce Back Loan of £37,500 in 2020 when businesses were only entitled to a single loan. Connelly had…
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Latest figures from the Insolvency Service have shown that the number of registered business insolvencies in England and Wales decreased by 8.4% to a total of 2,043 in June compared to May 2025’s total of 2,230, and decreased by 15.9% compared to June 2024’s figure of 2,430. The business insolvencies consisted of 332 compulsory liquidations,…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvency figures increased by 1.6% in June 2025 to a total of 10,279 compared to May 2025’s total of 10,113, and slightly decreased by 0.7% compared to June 2024’s figure of 10,356. In June 2025, 10,279 individuals entered insolvency in England…
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The construction industry experienced the highest number of insolvencies in the 12 months to May 2025 at 4,056, making up 17% of all industry cases according to latest data from the Insolvency Service. Overtrading risk looms for construction amid housing and infrastructure drive Commenting on the data, Kelly Boorman, National Head of Construction at RSM UK,…
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Latest monthly statistics from the Insolvency Service show that business and personal insolvencies increased in Northern Ireland in June 2025. The data showed that there were 25 business insolvencies registered, 47% higher than in June 2024. The insolvencies comprised of 14 compulsory liquidations, seven CVLs, three CVAs and one administration. There were no receivership appointments. Personal insolvency…
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