There were 1769 company insolvencies registered for January 2024, reported by the Insolvency Service. Made up by: 339 compulsory liquidations 1294 creditors voluntary liquidations 120 administrations 16 CVA’s Compared to January 2023, there has been a 5% increase in company insolvencies in January 2024. A proactive approach to credit management will help to support businesses […]… Continue Reading
Amidst the news that the UK has officially entered recession, businesses are seeking ways to minimise debt and maximise cash flow. The economy shrunk by a larger than expected 0.3% between October and December, after it had already contracted between July and September. The UK is in recession if it fails to grow for two […]… Continue Reading
Communities in the London boroughs of Newham and Southwark are to benefit from the acceleration of thousands of new homes, across three major brownfield regeneration projects, through a pioneering partnership. Reflecting the strong need in London for affordable homes, 40 per cent of the new homes on two of the sites, which have planning permission, […]… Continue Reading
All major housing developments are now required to deliver at least a 10% benefit for nature with England becoming the first country in the world to make Biodiversity Net Gain a legal requirement. Biodiversity Net Gain (BNG) will apply to applications for major developments only and will be implemented for small sites (between 1 and 9 […]… Continue Reading
Companies House is aiming to introduce the first set of measures under the Economic Crime and Corporate Transparency Act on 4 March 2024. The Economic Crime & Corporate Transparency Act gives Companies House the power to play a more significant role in disrupting economic crime and supporting economic growth. What will change? The first set […]… Continue Reading
We have confirmed that Readie Construction Ltd entered Administration Readie focused on projects that valued between £5m – £100m, primarily in the industrial and commercial sectors. The company has been running for 16 years and according to the last accounts for the trading year ending 31st March 2023 had a pre-tax profit of £ 1.73 […]… Continue Reading
In 2023, UK corporate insolvencies reached a staggering total of 25,159. Among these, the construction industry bore a significant brunt, accounting for just over 15% of the total insolvencies. For construction businesses, navigating through uncertain economic times demands a proactive approach to financial management. Throughout 2023 the construction industry suffered over 10 insolvencies per day […]… Continue Reading
How CICM is partnering with Top Service to advance the credit profession in the construction sector. We are excited to announce a new Corporate Partner. We are thrilled to announce that Top Service Ltd has taken a significant leap forward by becoming a proud corporate partner of the Chartered Institute of Credit Management (CICM). As the exclusive provider of credit […]… Continue Reading
Insolvency statistics for November 2023 were released on the 15th December 2023 by the Insolvency Service. A further increase of 149 cases in November, signifies a 6% increase in insolvency when comparing November to October 2023. Below we break down the figures into a Year and Year and Month by Month comparison. Registered Company Insolvencies […]… Continue Reading
When do you start your credit control process? Upon an overdue balance or earlier? Starting your credit control process as soon as you are approached by a potential new customer for a credit account can save you time, money, reduce the risk of bad debts and keep trading relationships healthy. Below we reveal our top […]… Continue Reading
