Small Business late payment rising due to cost of living increase
Nearly a quarter (24%) of small businesses and medium sized enterprises (SMEs) have seen a rise in the number of late payments. The late payment problem has increased since the cost of living has...
Businesses going bust forces a council to write off £560k
More than half of the bad debts written off by a council in the last six months of last year were caused by businesses going bust.East Lothian Council has revealed it wrote off more than £560,000 in...
Insolvency service to close half of its offices
The Insolvency Service will close half of its offices in England according to plans laid out in an new strategy. The news has not been met well though with the PCS Union saying it...
Business CCJs in Scotland rise by 52%
Business CCJs in Scotland saw a fifty two per cent (52%) increase in decrees and judgments against them in the first quarter of 2022. This huge rise is in comparison with the same period...
Late payment contributing to Small Business Owners mental health decline
The impact of increased late payment, business impacts of the covid pandemic and lockdowns have impacted on the mental health of Small Business owners according to FSB findings.In a survey by the Federation of...
Surge in Landlords seeking Rent Arrears Debt Collection
There has been a significant increase in the number of landlords seeking rent arrears debt collection action to recover lost rent, according to eviction firm Landlord Action.The debt collection industry has seen a sharp...
Sharp rise of Businesses in ‘Financial distress’
Leading Insolvency firm Begbies Traynor has reported a 19% rise in Companies in critical financial distress for the first 3 months of 2022.Research conducted by the Insolvency specialist has found that 1,891 firms were...
Golf Course seized by Bailiffs due to Unpaid Commercial rent Arrears
Problems with Unpaid Commercial Rent Arrears have seen Bailiffs seize a scenic golf course. Bailiffs seized the golf course last week in Portishead, Bristol. The land tied in with the golf course, formerly known...
Sporting legend jailed for breaking UK insolvency laws
World famous Tennis legend Boris Becker has been jailed for two years and six months following various breaches of his bankruptcy order. Becker was made bankrupt in 2017 and ordered to comply with Insolvency...
Tennis Ace facing Jail over avoidance of Bankruptcy Debts
Grand Slam champion and well known Tennis ace Boris Becker is facing a possible lengthy prison sentence for insolvency breaches today. He is accused of hiding hundreds of thousands of pounds of assets. He...
