EU Late payment reforms to be scrapped
The European Commission is reportedly set to scrap a controversial overhaul of EU late payment rules after a lack of support from several EU member states.The Commission proposed in September last year to limit...
Agricultural firm collapses into Administration
A highly regarded Newton Abbot Agricultural farm and garden machinery specialist has formally entered administration.At a meeting held with creditors last Tuesday (July 16), directors passed a resolution to voluntarily wind up C R...
Sharp rise in June for Business Insolvencies
Latest figures from the Insolvency Service have shown that there were 2,361 business insolvencies in England & Wales in June 2024, 16% higher than in May 2024 (2,040) and 17% higher than the same...
Council turns to Debt Collection Agencies for help
A Freedom of Information request has revealed £1.997 million of Maldon district council-related debt was sent to external debt collection agencies in the 2023/24 financial year.These debts include failures to pay Council Tax, Business...
Council’s huge £12.4m Debt Collection Challenge
Steps have been taken to claw back millions of pounds owed to Swansea Council after auditors warned that action was needed. At the end of January this year debtors owed the council £12.4 million, a council...
Rogue Insolvency firm shut down by Courts
A court has wound up a Manchester firm which offered unlicensed Insolvency Practitioner (IP) services.Save Consultants Ltd claimed to provide insolvency practitioner services when none of its current or former directors were licensed. Its...
Consumers want New Government to act on Late Payments
Xero, the global small business platform, today announced the findings of its ‘Settle Up’ report, which found 62 per cent of UK consumers surveyed expect tackling late payments to be a priority for government.For...
Increase in UK Businesses filing for Administration
A total of 879 UK businesses filed for administration in the first six months of 2024 – a 42% and 16% increase compared to 2022 and 2023 respectively, according to analysis by full-service law...
Commercial Landlords struggling says new study
A new study from infinitSpace also found more than one-in-seven commercial landlords believe their buildings are at risk of closing by 2029, amid affordability and mounting debt concerns.From early in the first lockdown in...
Unpaid Architect Fees forces firm to close down
Well established Gareth Hoskins Architects has announced a shock decision to cease their UK operations as a result of unpaid architect fees.In a statement, the practice cited an 'outstanding six-figure debt' for precipitating the...
