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Credit for small businesses ‘unaffordable’ for 75%

Posted by:     |     Category: Blog, Turnaround finance
credit for small businesses

New research from the Federation of Small Businesses (FSB) reveals that credit for small businesses continues to be a financial nightmare. Small businesses are finding it increasingly difficult to access new finance. The latest data showing that only six in ten (60%) small firms that apply for credit are successful. This quarterly figure is at its lowest since Q4 2015, and down considerably from the 74% recorded in Q2 2017. Credit...



Cash ‘no longer king’ in latest payment trends

Posted by:     |     Category: Blog, News
payment trends

A report published by trade association UK Finance shows that payment trends are changing. By the end of 2017, more payments were made using debit cards, at 13.2 billion payments, than payments made using cash, which totalled 13.1 billion payments. According to UK Finance’s annual Payment Market Review: the number of debit card payments increased by 14% last year when compared to the previous year the use of cash as a form of...



Executive’s pay to be justified under new Government plans

Posted by:     |     Category: Blog
executives pay

Spotlight on executives’ pay New plans outlined by the government could require large businesses to justify executives’ pay. Under the plans, firms with more than 250 employees will need to disclose and explain pay ratios annually. Large businesses will be required to justify executives’ pay and explain the gap between their chief executive’s salary and that of an average worker. Directors will also have to demonstrate...



Poundworld administration – another popular name leaving the high street

Posted by:     |     Category: Blog, Company Administration
Poundworld administration

Discount retailer Poundworld has announced that after failed rescue talks the company is entering into administration. Over 5,000 jobs are now at risk across the 335 stores. More recent announcements have confirmed that 98 job losses will be made at the Head Office in Normanton, West Yorkshire. Poundworld administration – what happened? The market for discount retailers has become increasingly challenging for a number of...



House of Fraser closing the doors on 31 stores in rescue deal

Posted by:     |     Category: Blog, Company Voluntary Arrangements
house of fraser

Headlines are dominated this morning by another big high street name announcing its intent to close a number of stores in a bid to survive. House of Fraser will close half of its 59 stores in the UK, with potentially 6,000 people losing their jobs. The House of Fraser stores at threat of closure have been named as: Altrincham • Aylesbury • Birkenhead • Birmingham • Bournemouth • Camberley • Cardiff • Carlisle •...

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