Monthly corporate insolvency figures from KPMG show a substantial drop in the number of companies going into administration. Richard Fleming, UK Head of Restructuring at KPMG, commented: We have seen average numbers of around 350 administrations a month since the beginning of the year but the latest monthly figures are much lower at 178. While we are entering the quieter summer months, such a dramatic drop of alm…

Edinburgh University's Credit Research Centre (CRC) will again host a major event for the credit industry this year as Credit Scoring and Credit Control XI returns on 26 to 28 August. To view details of the conference papers being presented, and to find out how to book, please visit www.crc.man.ed.ac.uk/conference. The biennial event welcomes delegates and speakers from more than 30 countries. It is run independe…

- 2 billion potential annual cost to economy - 2.38 million UK business owners stall payment to other parties to bridge late payment gap - For 1.35 million businesses, one late payment affects all other suppliers Late payments to businesses are causing a ripple effect impacting on more than half UK businesses which could be costing them as much as 2 billion a year.* New research, conducted among 876 busin…

Chantry Care Services, the Crediton based residential care home for adults with learning and physical disabilities, entered into administration on 1 July 2009. Chris Stevens and Ian Vickers, Client Partners at Vantis Business Recovery Services (BRS), a division of Vantis, the UK accounting, tax and business advisory group, were appointed Joint Administrators. With extensive residential care home advisory experience, Chr…

The future of one of Scotlands leading suppliers of live shellfish, the Isle of Skye-based Sea Scot, has been secured following the sale of the business to a UK subsidiary of a leading Spanish seafood processing company. Sea Scot had been in liquidation since 28th April and joint liquidators Tom MacLennan and Iain Fraser of Tenon Recovery have continued to trade the business whilst seeking a buyer. Now a newly …

Prepared by Roger Bootle, Economic Adviser to Deloitte. Profitability began to deteriorate last year, but the effects of the recession are now more clearly taking their toll. Although the near-term outlook for the economy has recently improved, I doubt that it will be growing at rates consistent with rising profits until 2011 or even 2012. The fall in profitability in the oil sector seen in Q1 should be short-li…

The latest Bank of England Credit Conditions Survey has revealed that lending to businesses did not increase as much as expected in the last 3 months. Commenting, David Frost, Director General of the British Chambers of Commerce (BCC), said: This is particularly concerning news considering the pivotal role businesses will play in driving the UK out of recession. If the banks do not grasp the nettle and start lend…

The debt industrys campaign to reduce mistraces within the collections process has received a welcome boost following a recent House of Lords Debate. The industry, led by the Credit Services Association (CSA), has long argued that access to the full electoral roll would prevent innocent parties from being wrongly mistaken for genuine debtors a cause of common complaint. Currently collectors are only able to see …

The Finance & Leasing Association (FLA) has responded to the Consumer White Paper launched today by supporting responsible lending, but warning that too much regulation could slow down economic recovery and harm consumers. The FLA is committed to promoting responsible lending and delivering real help now for customers in financial difficulties. Its tough Lending Code ensures that customers are treated fairly. The FL…

In just 12 months, 5.7 million[1] people have received a boost to their credit card limit without their consent whilst 3% have seen their spending power slashed The average increase received was 1,538[1], bolstering these limits from 5,129 to 6,667 and increasing the average interest bill from 800[7] to 1,040[7] These consumers have a total of 8.8 billion[1] additional cash to splash and could face an annual interest b…