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Top Service News

16% Increase In Trading Experiences From Top Service Members.

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For the first 6 months of 2024, Top Service has experienced a 16% increase in trading experiences submitted by it’s members. Demonstrating the importance of sharing this type of information and the value the information holds for credit managers and anyone assessing risk levels in the construction industry. Emma Reilly, CEO – Top Service Ltd […]… Continue Reading

Company Insolvency numbers in June 2024 were higher than in May 2024.

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The Insolvency Service has published the latest figures for June 2024, offering a detailed overview of the insolvency landscape in the UK. Here’s a breakdown of the numbers: Registered Company Insolvencies Breakdown: In June 2024, a total of 2361 company insolvencies were recorded, with the following distribution: 📈 1866 Creditors’ Voluntary Liquidations 🚫 302 Compulsory […]… Continue Reading

What is a Notice of Intention and What Does it Mean for Creditors?

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What is a Notice of Intention? A Notice of Intention (NOI)  is filed either by a company, its directors or a floating charge holder (usually a bank) outlining that they wish to enter the company into Administration if an immediate solution to the company’s financial problems cannot be found. The notice which is filed at […]… Continue Reading

Top Service Appoints Philip King FCICM as Non-Exec Director

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We are thrilled to announce the appointment of Philip King FCICM as a Non-Executive Director at Top Service, effective July 1st. Philip brings a wealth of experience in the credit management industry. After starting his career in the construction sector, Philip spent 14 years as Chief Executive of the Chartered Institute of Credit Management, and […]… Continue Reading

Exciting news!

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We’re thrilled to unveil our new logo, marking a significant milestone in our journey. This refresh represents our commitment to innovation and growth in the UK construction and credit management sector. Behind the scenes, we’ve been diligently preparing to realise our vision and solidify our market position. Our focus remains on delivering unparalleled value to […]… Continue Reading

📊 Insolvency Statistics Update – May 2024

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The Insolvency Service has released the latest figures for May 2024, providing a comprehensive overview of the insolvency landscape in the UK. Company insolvency dropped 6% compared to April 2024 but insolvency remains higher than those seen during Covid-19 and between 2014 – 2019. 📈 Overview of Registered Company Insolvencies In May 2024, a total […]… Continue Reading

Insolvency Statistics Update – April 2024

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The Insolvency Service has released the latest figures for April 2024, shedding light on the insolvencies in the UK. Here’s a breakdown of the numbers: Registered Company Insolvencies Breakdown: In April 2024, a total of 2,177 company insolvencies were recorded, with the following distribution: 📉 1,715 Creditors’ Voluntary Liquidations 🚫 300 Compulsory Liquidations 🏢 144 […]… Continue Reading

Retention of Title – Practical advice to enable recovery of unpaid goods

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Understanding Retention of Title Supplying goods on credit can be a risky business. In the midst of tough economic times, it is more important than ever for businesses to protect themselves against the risk of a customer becoming insolvent. What is Retention of Title (ROT)? A valid ROT clause allows a supplier to retain ownership […]… Continue Reading

Changes to the Small Claims Track

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From 22nd May, 2024, any money claims up to £10,000 must undergo a free one-hour mediation session through HMCTS’ Small Claims Mediation Service. This means small claims mediation is now mandatory. This new requirement aims to reduce the number of claims reaching court, freeing up to 5,000 judicial sitting days annually to focus on more […]… Continue Reading