Credit, Collections & Insolvency News
More than eight in ten small business owners (83%) cite barriers holding their businesses back from growing – and in the Manufacturing (96%) sector the figures have hit a 10-year high – according to new research from Novuna Business Finance. The findings come at a time when the Government is grappling with delivering on its…
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May’s NatWest Regional Growth Tracker showed renewed increases in business activity across several parts of the UK, alongside a general revival of firms’ growth expectations for the coming year. The Tracker – which surveyed businesses operating in the manufacturing and services sectors across 12 regions of the country – showed improvements in…
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A new report by the British Retail Consortium (BRC) has put cost pressures in the UK retail sector could lead to one in ten jobs being at risk by 2028. Since 2015, over 350,000 retail jobs have already been lost, a decline significantly larger than that in the steel industry. While the Government has…
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A woman who pretended to run a business to secure a £50,000 Covid Bounce Back Loan has been sentenced for fraud following an investigation by the Insolvency Service. Rubaszko applied to a bank for a Covid Bounce Back Loan on 26th April 2021, which was approved on 28th April 2021 and paid into her bank…
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The Government has announced in a Written Ministerial Statement that the Ministry of Justice will be consulting on how to implement regulation of the enforcement sector. The Government says the review will aim to increase protections for those facing debt enforcement action and raise fees recoverable by bailiff firms. Setting out plans to overhaul to…
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A new survey of hospitality operators from across the sector lays bare the impact of recent increases to employer National Insurance Contributions (NICS) and the changes to Business Rates on hospitality businesses. The effects are already so dramatic that Government targets, including ambitions to hit 80% employment and high street renewal, look doomed to fail…
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The Government has announced that more than three-quarters of pensioners will receive the winter fuel payment this year. The change wil mean that around nine million pensioners with an income of, or below, £35,000 a year receiving the benefit. The threshold is well above the income level of pensioners in poverty and is broadly in…
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eCapital Commercial Finance, has announced two key appointments to its board of Directors as part of an evolution in its corporate structure, designed to drive the company’s next phase of growth. Ant Persse has been appointed Chief Product Officer, bringing a wealth of experience across product innovation, finance technology, and credit risk. He has successfully…
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New research by abrdn Financial Fairness Trust has found that over a third of households (34%) are cutting their use of water instead, with one-in-five (19%) reducing the number of showers or baths they take. The data showed that 24% report their energy bills have increased ‘a lot’ and 29% say their water bills have risen…
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ICAEW has announced it has appointed Derek Blair as its President for 2025/26. Blair succeeds Malcolm Bacchus and will remain President until June 2026. Blair’s role as President will include supporting the implementation of ICAEW’s new strategy, Direction 2030, which focuses on maintaining relevance, enhancing reputation and building resilience across the profession. Meanwhile, his priorities…
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New research by American Express has found that over two-thirds (68%) of SME leaders feel their businesses are resilient, having faced a series of challenges. The resilience sentiment translates into business confidence, with 73% of SME leaders expressing optimism about their company’s future prospects. This represents a four percentage point increase from the previous year’s survey…
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In May, the following administration notices were issued and advertised in the London Gazette for the following companies: 375 PROPERTIES LIMITED 79TH COMMERCIAL THREE LTD 79TH GRP CLIENT LTD 79TH GRP THREE LTD 79TH LUXURY LIVING FIVE LTD 80SIX LTD A, R & S SHINGDIA ACM COMMERCIAL LIMITED ACM EDUCATION LIMITED ACM LONDON LIMITED AITA…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in May: 1 LIFE U K LTD 3RIO GROUP LIMITED 99 MEDIA ORG LTD A AND S TRADING NW LTD A B DEVELOPMENTS (YORKSHIRE) LIMITED A V CAPITAL UK LIMITED A&V MOTOR ACCIDENT REPAIRS LTD AAA…
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