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Debt Collection News

Latest Debt Collection News

Live news feed sourced from our partner, ukdcnews.co.uk

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  • 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 decades, policymakers pledged to address the power big businesses hold over small firms, which last year cost small businesses an […]
  • 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 firm Shakespeare Martineau. Retail, manufacturing, construction, real estate and hospitality were the worst-hit sectors for the second year in a row, […]
  • 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 2020, commercial landlords were banned from exercising most of the usual remedies available to them to enforce rent arrears that […]
  • 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 decision amidst a difficult trading environment contributing to multiple project delays. In a trading update, the practice wrote: “Hoskins Architects […]
  • Cazoo Group Ltd has announced that the company is officially winding up, following the company’s extraordinary general meeting yesterday (July 2). Shareholders approved resolutions for the company to be placed in voluntary winding up, the appointment of voluntary liquidators and their renumeration at the EGM. The Securities and Exchange Commission notice from Cazoo says that […]
  • With tomorrow’s election looming, promises have been made by Politicians on how they each plan to combat late payment. All the major political parties are making pledges to tackle late payments that hurt business growth in the UK. The Conservatives, Labour and Liberal Democrats have all made promises to tackle the late payments crisis harming […]
  • Oxford United have been fined £3,500 and handed a suspended one-year transfer fee ban,  as a result of the club accumulating 30 days or more of late payments in the 12-month period from 1 July 2023 to 30 June 2024. Initially, the U’s were issued with a three-transfer window fee restriction which would have seen them […]
  • An Insolvency practitioner for an accountancy firm has warned of a growing trend of ‘fresh air invoicing’. Stephen Grant of Azets, an accountancy and advisory firm with offices in Poole and Blandford, announced rising instances of financially strained firms issuing invoices unrelated to any trading transaction. The practice – coined ‘fresh air invoicing’ – deceives finance companies […]
  • Ex-BHS director Dominic Chappell has been ordered to pay £50m to cover company debts and losses the firm incurred before its collapse. A High Court judge said Mr Chappell tried to “plunder the BHS Group whenever possible” after he bought the company for £1 from Sir Phillip Green in 2015. The ex-director was imprisoned for […]

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