Credit, Collections & Insolvency News
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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Latest statistics from the Insolvency Service have indicated that Northern Irish business and personal insolvency figures increased the latest quarterly figures. In January 2022, there were 18 business insolvencies registered in Northern Ireland, six times as many as in January 2021, but 31% lower than January 2020. The insolvencies comprised of two compulsory liquidations, 12…
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Latest figures from the Insolvency Service have indicated that the number of business insolvencies in England and Wales doubled year-on-year last month, with 1,560 company insolvencies in January. The business insolvency numbers were up from 758 in January 2021 and exceeded the pre-pandemic total of 1,508 recorded in January 2020. Business insolvencies increased by 4.8%…
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The food and beverages output is forecast to grow by more than 3% in 2022, but the outlook for food producers and processors is less positive according to a recent report from trade credit insurer Atradius. The report outlines how the UK food and beverages market rebounded after a 5.3% contraction in 2020. Last year…
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The Financial Services Compensation Scheme (FSCS) has named 12 firms to be in default and out of business, including one credit union and one mortgage adviser firm. All Flintshire Credit Union and mortgage advisor firm, Midland Independent Financial service (formerly The Mortgage Shop) are listed amongst the 12 firms the FSCS believes are unable to…
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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 figures from Accountant in Bankruptcy (AiB) has indicated that business insolvency numbers (liquidations and receiverships) in Scotland for the year ended 31st December 2021 were 17.9% higher than in the year ended 31st December 2020, at 704 (2021) against 597 (2020). Whilst the number of business insolvencies (liquidations and receiverships) in Scotland rose by…
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Latest Statistics from the Insolvency Service show that the number of registered business insolvencies in England and Wales in December was 33% higher than the number registered two years ago, just before the pandemic. The data shows that there were 1,486 registered company insolvencies in December, with this 20% higher than a year earlier. The…
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The number of business insolvencies (liquidations and receiverships) in Scotland increased by 63% according to latest Accountant in Bankruptcy (AiB) figures. In December 2021 there were 93 company insolvencies registered in Scotland, 63% higher than December 2020 and 4% higher than in December 2019. This was comprised of 17 compulsory liquidations, 73 CVLs and three…
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Latest statistics from the Insolvency Service have shown that Northern Irish personal and business insolvencies decreased in December in the latest monthly 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…
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Brexit combined with the coronavirus pandemic has created a double-edged sword for businesses with its full-scale impact yet to be realised with Economists from Atradius predicting that insolvencies will rise by 33%. As the UK marks its first anniversary of the Brexit withdrawal, Atradius reports that the true ramifications of Brexit have been overshadowed by…
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In December the following administration notices have been issued and advertised in the London Gazette for the following companies: 19 RM LTD 316 ENGINEERING LTD. ACCUMULATE COMMERCIAL LTD ACICS LTD AIGENPULSE LTD ALPHA HOMES (LEICESTER) LTD AMTECH DEVELOPMENTS (UK) LTD ARTISAN INVESTMENT GROUP LTD BANANA KICK LTD BATES OF LONDON LTD BDL TOOL & DIE…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in December: 07696043 LTD 10 COMPUTERS LTD 110 CHESTERGATE HAIR LTD 112 (SPEKE) LTD 2020 DESIGN & BUILD LTD 2105 CATERING LTD 23LSI LTD 30 PERCY STREET LTD 365 HOSPITALITY CATERING LTD 3RD DIMENSION HOUSING LTD…
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