Credit, Collections & Insolvency News
Delayed payments and insolvencies are predicted to rise in the consumer durables retail sector this year, reveals leading trade credit insurer Atradius. In its latest Industry Trends report on the retail sector, Atradius emphasises the importance of maintaining close working relationships with retailers, and acquiring real-time insight, as the key to navigating the next six months. Increasing…
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Allianz Trade has predicted that business insolvencies will rise by 37% this year with the UK is set to become the first big European economy to reach pre-pandemic levels of corporate insolvencies. The research suggests the surge in insolvencies will be driven by the withdrawal of Covid support schemes, rising commodity prices, supply chain disruption,…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales decreased by 6% in April 2022 to a total of 1,991 compared to March’s total of 2,119, and increased by 115.2% compared to April 2021’s figure of 925. Business insolvencies were more than double the number registered in…
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Latest quarterly statistics from the Insolvency Service have shown that Northern Irish business insolvencies increased by 273% whilst personal insolvency figures also rose slightly. The figures indicated that there were 56 company insolvencies in Northern Ireland in Quarter 1 2022 (Q1), nearly four times higher (an increase of 273%) than in the same quarter of…
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Latest quarterly figures from the Insolvency Service have indicated that the number of business insolvencies in England & Wales rose to its highest levels since 2012. The figures show that there were 4,896 company insolvencies registered in Q1 2022, 6% higher than the number of company insolvencies registered in the previous quarter and more than double…
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Global demand for pharmaceuticals remains strong, but the UK will need to reassess impending risks, according to leading credit insurer, Atradius. Throughout 2020, the UK’s pharmaceutical industry surged its value-added output by 13.6% – leading to a 13% boost above the 2019 pre-pandemic level. And although year-on-year growth in this sector levelled off in 2021,…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales increased by 39.4% in March 2022 to a total of 2,114 compared to February’s total of 1,517, and increased by 111.6% compared to March 2021’s figure of 999. The increase in company insolvencies was driven by an…
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Latest figures from Accountant in Bankruptcy (AiB) have indicated that business insolvency numbers (liquidations and receiverships) in Scotland doubled in March. In March 2022 there were 86 business insolvencies registered in Scotland, 100% (2 times) higher than March 2021 but 11% lower than in March 2019. The insolvencies comprised of nine compulsory liquidations, 71 CVLs…
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Latest statistics from the Insolvency Service have indicated that Northern Irish business insolvencies increased whilst personal insolvency figures declined in the latest monthly figures round-up. In March 2022 there were 20 business insolvencies registered in Northern Ireland, almost three times as many as in March 2021, but 35% lower than March 2019. This was comprised…
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Despite a return to normal for many economies in 2022, insolvencies are set to rise according to trade credit insurer, Atradius. The company predicts that the global economy will emerge gradually from the Covid pandemic in 2022, with restrictions unwound in most countries and regions. But despite a return to normality for many, Atradius reports…
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Compulsory liquidations of struggling businesses have increased by 76% from 139 to 245 in the last three months according to new research by Mazars. The company predicts that there will be even more liquidations are expected in the next three months as the last temporary government measure to protect companies from insolvency during the pandemic…
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Latest figures from the Insolvency Service have indicated that the number of business insolvencies in England & Wales more than doubled year-on-year last month, with 1,515 business insolvencies in February. The increase was 121.2% compared to February 2021’s figure of 685. They were also 12.6% higher than in February 2020 (1,346). The increase in company…
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Latest figures from Accountant in Bankruptcy (AiB) has indicated that business insolvency numbers (liquidations and receiverships) in Scotland nearly tripled in February. In February 2022 there were 73 business insolvencies registered in Scotland, 181% (2.8 times) higher than February 2021 but 15% lower than in February 2020. The business insolvencies comprised of 10 compulsory liquidations,…
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