Jameson Smith & Co Ltd

Visit our website for more information on business debt and insolvency solutions at https://www.companydebt.com

Monday, 17 October 2011

Quarter 3 Company Administrations Up:

The amount of administrations carried out for limited companies is on the rise according to the London Gazette this week with an increase of 7.8 per cent. Cases in London remained the same as last quarter and the North East has seen the largest change in percentage with a 46.2 per cent increase. The Midlands saw a rise of 24.7 per cent.

Statistics from the London Gazette suggest the construction industry were the hit the hardest out of all the sectors. The retail industry and the services industry followed not far behind.

Other sectors included during the last quarter are 50 property companies, 67 from manufacturing, 60 from leisure and hospitality, 26 from healthcare and 55 from the Telecoms, media and technology industry. 

Company Administration can be a viable solution depending on the insolvency situation involved. If you would like to know more about administration or other insolvency solutions available contact us on 08000 747 757.

Monday, 10 October 2011

Debt Management Firms Under Fire:

Three debt management firms have been targeted by the Office of Fair Trading as their standards have not been met.

What was once known as the 'UK Insolvency Helpline' can no longer trade on using this name. Money Advice Direct has been told by the Office of Fair Trading that it can no longer trade under the 'UK Insolvency Helpline' name as it could confuse potentials clients in regards to the commercial nature of the business.

Two other firms have also been targeted by the OFT.

The Director of Consumer Credit at the Office of Fair Trading has announced that if debt management companies do not meet their standards the OFT will take action against them.

Thursday, 6 October 2011

First Quartile Limited Complete Pre-Pack Administration:

A marketing company (First Quartile Limited) to brands such as JP Morgan, AXA & Prudential has finished a Pre-Pack Administration and is to be sold to a London-based agency.

MacIntyre Hudson were appointed as Administrators earlier this month.

A Pre-Pack Administration can be a much cleaner process as it gets rid of the retrospective liabilities attached to the legal entity, allowing for a clean start going forward.

To find out more about insolvency solutions and some of the services available to your company contact us.