Welcome to ICSM's 2026 Newsletter

Welcome to ICSM's 2026 Newsletter

A warm welcome to our first newsletter of 2026 with news and views and our long running list of firms who have hit the buffers in recent weeks - at ICSM we are dedicated to helping members avoid bad debts and late payers. In our regular news stories published online on our website we chart those companies that go bust or enter into pre-packs - often at the expense of suppliers. Whether the new Fair Payment Code helps to prevent late payment we’ll see – but the code is voluntary and applies to large companies.

Last year saw difficult trading conditions for many firms with the continued problems of the Brexit business deal, the hike in National Insurance contributions in the budget, stubbornly high inflation levels and of course the impact of the USA new tariffs. One thing that hasn’t changed is the continued problem of late payment which according to the Smart Data Foundry is costing SMEs £22,000 a year on average and according to FSB research, leads to 50,000 business closures a year. FSB research shows that every quarter in 2022, 52% of SMEs small firms in the UK suffer from late payments, meaning roughly 2.8 million small firms face this issue, with the Federation of Small Businesses describing it as one of the biggest problems facing SMEs.

Late payments are just one element of the problem, with some SMEs forced to wait months for contracts to be fulfilled and some are even forced to take out loans against their own homes to manage cash flow.

The Department for Business and Trade’s consultation on addressing late payment is of course welcome – and I urge SMEs in particular to respond to their request for ideas on how to tackle the problem. At ICSM we have the full spectrum of British businesses as members from groceries to logistics companies, and from manufacturers to sole traders - and without exception late payment is an issue for them all.

In this newsletter we have a range of stories and of course a list of firms that have hit the buffers – make sure you are not one of them by using ICSM’s resources such as our free legal letters and debt collecting services. In the meantime – let’s make 2026 profitable.
Kind regards
Ian Carrotte
Proprietor
ICSM CREDIT

For information on ICSM visit www.icsmcredit.com or call 0844 854 1850.

www.icsmcredit.comIan.carrotte@icsmcredit.com
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CONTENTS

Logistics and the danger of small margins

Hospitality – whose has gone bust or are in trouble

Printing and Allied Trades – Newspapers come and go

Artificial Intelligence – Fears grow over an AI bubble

Thoughts on The Fair Pay Code

Who has gone bust lately – check out the list

ICSM Logistics Insolvency News: a tax bill is often the final blow for hauliers operating on small margins

By Harry Mottram: It may not be one thing but a combination of factors can sink a firm as the economy continues to flatline as we enter 2026. A hike in National Insurance contributions, rising non-fuel costs, expensive spare parts, high energy prices and interest rates can eat away profitability. A sudden tax bill or the loss of a major contract can spell the end as happened to the haulier Norfolk Straw Products, who were hit by a tax bill from HMRC of £190,000 last autumn. The firm had 12 HGVs and 15 trailers and were forced to surrender their licence and were voluntarily wound up after the taxman served a petition in October.

Worcestershire based News Transport founded in 1969 entered administration in November. Writing for the trade publication Motor Transport Chris Tindall reported: “The haulier held an operator licence authorising 10 HGVs and six trailers running out of its Ampthill base but its surrender is now under consideration by the traffic commissioner.”

He added: “The haulier held an operator licence authorising 10 HGVs and six trailers running out of its Ampthill base but its surrender is now under consideration by the traffic commissioner.”

Meanwhile the journalist reported on the haulier BI Halder & Son that was sold at Christmas in a pre-pack after running into debt. He reported: “BI Halder & Son which had been operating since 1969, was facing a significant debt with HMRC for VAT payments, which had accumulated amid wage increases, the Covid 19 pandemic, soaring fuel prices and rising vehicle hire costs. Administrator Leonard Curtis said the arrears were in the region of £585,000 and so the East Yorkshire haulage company dealt with it by taking out a loan for £300,000 and arranging a time to pay (TTP) agreement with HMRC for the balance of £285,000. It made nine monthly payments of £12,000 while at the same time paying ongoing liabilities for both VAT and PAYE, but by January 2025 it no longer had sufficient funds to pay the December quarter’s VAT. BI Halder’s problems were compounded after the TTP arrangement was brought to the attention of its invoice finance company’s attention and it reduced the advance rate on financed invoices from 85% to 70%.”

The firm was sold to Halder Transport and Storage who have the same directors as BI Halder & Son for £346,548 and have retained the staff under TUPE regulations.

WSH Logistics in Herefordshire also collapsed at Christmas after the value of its sales ledger was hugely overstated, while other factors included an expensive move to new offices a shortage of drivers, high rental charges and interest rates, as well as the national insurance increase. Ian Carrotte of ICSM said all these winter casualties had the usual problems but often the failure to put aside money for HMRC can be the final blow.

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ICSM Hospitality Insolvency News: U-Turn on pub business rates; TGI on the brink; Leon in trouble; Pizza Hut cut in half after sale

By Harry Mottram: With the news the Government is to change how pub business rates are calculated there’s been a sigh of relief from many in the hospitality industry although opposition politicians have said it is too little too late. Simon Jack of the BBC reported that Emma McClarkin, chief executive of the British Beer and Pub Association, said it was "potentially a huge win" for the sector. "This could save locals, jobs, and means publicans can breathe a huge sigh of relief," she said. While Kate Nicholls, chair of UK Hospitality, representing the industry, said the relief should apply not just to pubs, but to all hospitality businesses affected, including cafes and restaurants. "We need a hospitality-wide solution, which is why the government should implement the maximum possible 20p discount to the multiplier for all hospitality properties," she said.

The plans will roll back the Chancellor of the Exchequer Rachel Reeves’ budget which was to cut discounts for pub business rates. Combined with inflation, interest rates and the Cost of Living Crisis which has seen punters staying home to save money the hospitality sector have lobbied the Treasury with some pubs even banning MPs from being served. Ian Carrotte of ICSM said that perhaps depriving a Labour MP from his pub pint has worked. He said: "The Night Time Economy is estimated to be 20% of consumer spend - with eating out a big chunk of that. A down turn in the sector hits their suppliers but also the wider economy from printers and sign makers to landlords to businesses near by."

TGI Fridays

Industry insiders predict that TGI Fridays will be sold this month in a pre-pack with many of the restaurants closed and as many as 2,000 staff made redundant. What that means for suppliers chasing unpaid invoices is unclear since most pre-packs are a seen by some as method to dump debt by the new owners. Last year Sugarloaf is led by Ray Blanchette, who previously ran TGI Fridays for five years acquired the chain from Breal Capital and Calveton UK but have since decided to sell. In late 2025 they filed their intention to appoint administrators but have repeatedly delayed doing that leaving some to speculate the pre-pack be delayed further. A TGI Fridays spokesperson told The Caterer earlier this week: “TGI Fridays UK is still assessing all options for the future of the business. No decisions have been made yet and locations continue to operate as usual.” The firm is considered to have major problems by industry analysists with historic debt, falling customer numbers and a mix of sites with some in profit and others in trouble.

Leon News

The fast-food chain have appointed administrators at Quantuma  with the aim to restructure and potentially close the loss-making outlets with a plan to save the profitable ones. The business has 44 sites across the UK and has 22 franchises and has concentrated on creating healthy eating with an accent on the Mediterranean diet. High rents are thought to be behind one of the reasons it has got into trouble while the owners have said unsustainable taxes are another issue. The company set up in 2004 by Mr Dimbleby, John Vincent and chef, Allegra McEvedy. ICSM understands that the chain will try to exit the administration using a CVA.

Pizza Hut

American hospitality giant Yum! Brands have rescued the pizza restaurant chain that entered administration in the autumn. The taxman filed a winding up petition for unpaid tax last September which forced the issue and FTI were soon afterwards appointed as administrators by DC London Pie Ltd, the business established to manage Pizza Hut UK following a pre-pack agreement. The seal will see about half of the 130 outlets kept open keeping more than 1,200 jobs – but essentially closing half of the restaurants.

​Historic debt, taxation, increased competition from upmarket pizza restaurants and a drop in footfall as families feel the pinch has seen the all-you-can-eat model struggle with costs.

More closures

The London based cocktail bar chain Simmon entered administration last year after making a £749,000 loss. The British Beer and Pub Association (BBPA) has estimated that 378 pubs will close this year across England, Wales and Scotland – more than one per day on average – amounting to more than 5,600 job losses. Last year also saw the end of Petersham Nurseries' Covent Garden location, featuring restaurants like The Petersham and La Goccia, along with its florist, deli, and shop while Nick Nairn’s Kailyard restaurant at Dunblane Hydro Hotel is also set to shut down this year. Last Christmas failed to save Chiswick Indian restaurant Annapurna which closed in December for good while seafood restaurant group Lussmanns has undergone a pre-pack administration and closed two of its seven restaurants. And just to add to the depression Nathan Outlaw will close his Michelin-starred restaurant Outlaw’s New Road this year.

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ICSM Print Insolvency News: newspaper closes; end of an era for book printer; paper mill shuts down, and collapsed advertising firm leaves millions in debt

By Harry Mottram: It was the year of the Louisiana Purchase when France sold a slice of North America to the USA doubling its size. And 1803 also saw journalists allowed into the House of Commons to report on debates – boosting the content of newspapers and expanding the printing industry.

And in 1803 saw the establishment of the book publisher Clowes – which became CPI William Clowes. In November the trade journal Print Week reported the 222 year old firm was to close down by the end of March this year. Writing for the title Jo Francis reported: “It [Clowes] produces professional titles such as weighty legal tomes, timetables, manuals, annual publications, and high pagination thin paper books such as Bibles. All its core products are either increasingly going online, being produced in much reduced volumes, or are typically printed in the Far East and India in the case of Bibles. The Beccles-based business has sales of around £6.5m and has been loss-making in recent years. It had benefited from an influx of work after rival Wheatons closed in 2017, but the subsequent market decline proved insurmountable.”

The 50 staff are likely to be made redundant with some of the kit redistributed to CPI’s other sites.

Paper Mill Shuts

The German paper mill Feldmuele has blamed high energy prices in part for its planned closure with an announcement in December quickly following on from the news it had gained approval from creditors to exit insolvency proceedings.

Print Week reported that in a statement stated: “It seems that there is no desire for energy-intensive industry to remain in Germany.”

The Hamburg firm said: “In recent years, our company has made high-quality, capital-intensive investments in sustainability and energy efficiency. We have optimised and modernised processes, committed ourselves to training the next generation, developed new products and reduced our costs – all in a highly competitive environment.

“We were confident that we would achieve a turnaround. Unfortunately, due to unplanned market events, the inconclusive discussion on industrial electricity prices and ever-increasing new bureaucratic hurdles, we have come to the conclusion that we will no longer be able to continue production at our site in Uetersen in a sufficiently competitive manner in the long term – it is not economically viable to maintain operations.”

The mill had employed around 200 prior to the most recent restructure. In 2018 Feldmuehle underwent a similar process twice, during which it halved its workforce, shut down its second paper machine and exited the graphic papers market.

Newspaper printer shuts

Print Week’s Jo Francis has reported that digital newspaper printer Stroma has gone into voluntary liquidation after nearly 25 years in business. The West London firm began life in January 2001, printing editions of foreign newspapers for distribution in London and beyond. The West London firm began life in January 2001, printing editions of foreign newspapers for distribution in London and beyond she reported. Managing director Steve Brown said that the loss of two major contracts for books and training materials – one just before Covid, and one in autumn this year – had left the business unviable. Turnover had fallen to just under £1m from more than £2m, and staff numbers had been reduced from 16 at the firm’s peak to half that number.

Print Week reported: “Estimated total assets available for preferential creditors come to £103,030. Eight employees are owed £291,882 while unsecured creditors are owed £95,683. The estimated total deficiency is £402,670.”

Newspaper saved

Often called The Torygraph for its support of the Conservative Party The Daily Telegraph has been bought by rival newspaper The Daily Mail group – with funds from the NatWest Bank. Subject to the Government, Ofcom and the Competition and Markets Authority if the deal goes ahead the Daily Telegraph and Sunday Telegraph will join the Daily Mail, The Mail on Sunday, Metro, the i Paper and New Scientist among the Lord Rothermere owned media group’s portfolio. The newspaper like all print news sheets published back in the day in Fleet Street has seen its circulation fall although a legal dispute between the previous owners known as the Barclay Brothers didn’t help.

£11m Hole

The Leeds based firm 75 Media Limited left an estimated total deficiency of over £11m, following the advertising firm’s decision to enter voluntary liquidation in November reports Print Week. The trade publication said: “A total of 58 employee creditors were registered with the Leeds-headquartered outdoor advertising firm.”

James Saunders and Mark Blackman of KR8 Advisory were appointed joint liquidators of 75 Media on 4 December to sort out the affairs which include the £11 deficiency along with £6.9m to creditors. A long fist firms are owed money along with the staff who are owed £188,189. A total of £2,245,207 is available for secondary preferential creditors, along with £2,289,704 for preferential creditors. While just over £2m is available to unsecured creditors and HMRC was owed £235,116.

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ICSM Business News: THE BIG SHORT - fears of the AI bubble bursting in 2026 with a market crash affecting all levels of business

By Harry Mottram: When America sneezes, Britain catches a cold, as the old saying goes. And so it was in 2000 with the dot.com bubble, the sub-prime scandal in 2008, while in 2026 the consequences of the AI bubble bursting could see another stock market crash, banks calling in loans and firms halting spending. That affects everyone from the high street instant print shop to big infrastructure projects that need vast funds to sustain their development.

A number of commentators, business owners and insiders have been raising concerns about the hype that has made AI firms the hot property for investors with their stock market value soaring. If you use social media such as Tik Tok, it is getting harder to work out what is real and what is made up with AI, or if you work in a firm where AI training is mandatory, or you indeed already use AI to write, think up ideas or process data then you’ll know it is here to stay. So why the reason for the doubts and fears for firms investing in it? Basically, the sums don’t add up – the returns on the trillions pumped into the production of AI by some of the big companies don’t match the small percentage of cash coming in from customers.

In other words, the price to earnings ratio is unsustainable. You may remember the movie The Big Short, where Fund manager Michael Burry, played by Christian Bale (pictured) spots that the USA housing market is overpriced and is due for a collapse in value – he then bets against the market rising – or shorting – and is proved right when the only mortgage lenders, but banks and associated firms crash triggering the sub-prime crisis. Michael Burry announced this year he is betting – or shorting - against AI firms.

Microsoft, Amazon, Google Meta and Oracle are estimated to be budgeting to spend $1trn on AI next year while Open AI is committed to investing another $1.4trn in the next 36 months and in 2025 they’ve only made $20bn in profit – a drop in the ocean compared to what they’re putting into AI. The big seven tech giants have deep pockets, but many smaller firms rely on lenders who are increasingly looking at their ROI and wondering if they will see their money returned. Open AI has 800 million uses but only 5% pay for it while the US census bureau estimate AI is only bought by 12% of users. In business if only 12% of your customers paid for your services you’d soon go bust.

Ian Carrotte of ICSM has concerns that if America does see the AI bubble burst then the repercussions would be similar to the sub-prime collapse. And that would see firms in this country getting cold feet about spending on staff, kit and new outlets, while banks would do what they always do in a recession and stop lending to small businesses.++++++++++++++++++++++++++++++++++++
Below are a list of firms who have hit the buffers lately:

ICSM SECTORS:

1 PRINTING AND ALLIED TRADES

2 LOGISTICS AND COURIERS

3 HOMES AND GARDENS

4 VARIOUS SECTORS: CONSTRUCTION; EDUCATION; FOOD AND DRINK; HEALTH; HOLIDAYS; HOSPITALITY; MANUFACTURING; UTILITIES

 

1 PRINTING, MEDIA AND ALLIED TRADES

ADMINISTRATORS APPOINTED

DREAMZ ENTERTAINMENT LTD    12411253

UNITED AUTHORS PUBLISHING LIMITED    07279146

ADMINISTRATION MEETING OF CREDITORS

MONUMENT PAPER BAG CO LIMITED (THE)   00481099

CREDITORS’ VOLUNTARY LIQUIDATION DEEMED IN CONSENT MEETINGS

BLACK PANTHER SIGNS LIMITED    09402021

BSS MEDIA CO LIMITED    11271475

E M DESIGNS LIMITED    06466864

ES PRESS LTD    15738212

SA GHANA EVENTS LTD    11151754

WHITTAKER'S EMBROIDERY LIMITED    04543613

CVL LIQUIDATORS APPOINTED

AKS DESIGNS LIMITED    06734299

AVIATION MEDIA LIMITED    07777516

CLOVER-DESIGNS LIMITED    12914867

FGS COMMUNICATIONS LTD    14101782

FLETCHER CATERING LIMITED    10308708

GRAPHIC SERVICES SIGNS & EXHIBITIONS LTD    07626824

HURRICANE MEDIA UK LIMITED    06221413

INFINITY PRINT & MAIL LIMITED    10095870

JP POSTAL SERVICES LTD    08439491

K & K GLOBAL MERCHANDISE LIMITED    09282196

LONDON GRADE COFFEE LTD    01677209

NJC COMMS LTD    09635825

PAPER DIENAMICS LTD    12116599

SPRINTER PRINTER GROUP LTD    10086384

STUART WILLIS PRINT CONSULTANCY LIMITED    07436213

UNCHARTED PRESS LTD    08833968

MEMBERS VOLUNTARY LIQUIDATIONS

PJ PRINT (EAST ANGLIA) LTD    08123808

BJ PACKAGING SOLUTIONS LIMITED    10410761

PETITION DISMISSED

WELLPACK EUROPE LTD    06398419

PETITIONS TO WIND UP

D. & A. MEDIA LIMITED    03960314

GREEN. TV MEDIA LIMITED    06396275

JUST NATURAL HEALTH & BEAUTY LIMITED    13437220

THE EMPIRE DESIGN COMPANY LIMITED    03119408

W G OFFICE SUPPLIES LIMITED    01350592

SECRETARY OF STATE LIQUIDATION APPOINTMENT

RYMACK SIGN SOLUTIONS LIMITED    05806281

WINDING UP ORDERS

A & S PRINTERS    05745694

BAILLIE COMMUNICATIONS LTD    11227569

INDUSTRIAL FINISHING SERVICES LIMITED    06777597

VRI DISPLAYS LIMITED    12257544

2 LOGISTICS AND COURIERS

ADMINISTRATORS APPOINTED

GWYNEDD TRANSPORT LIMITED    03291941

ADMINISTRATION CREDITORS MEETING   

FLYBE LIMITED    12875147

COMPULSORY LIQUIDATOR APPOINTED   

EAST COAST HAULAGE LTD    12616560

CREDITORS’ VOLUNTARY LIQUIDATION DEEMED IN CONSENT MEETINGS

AAC LOGISTICS LTD    08317485

BASKERVILLE'S TRANSPORT LTD    09290082

DAYTON TRANSPORT LTD    13910756

HIDOK EXPRESS LTD    11819178

HORNIGOLD HAULAGE LIMITED    01629645

CVL LIQUIDATORS APPOINTED

BALMORAL STORAGE COMPANY LIMITED    08322213

CARTERS TRANSPORT LTD    12006669

FREIGHTSAFE LTD    11113287

JOECAT COURIERS LTD    07916416

LAVER LOGISTICS LIMITED    08830075

LEADER LOGISTICS SERVICES LTD    11586424

MG.MOSES HAULAGE LIMITED LTD    11382443

ON RAIL SOLUTIONS LIMITED    10317649

PBN PARCELS AND COURIERS LIMITED    06762898

SK COURIER LTD    09918866

V VOICU TRANSPORT LTD    10347728

VERN TRANSPORT LTD    09553684

MEMBERS' VOLUNTARY LIQUIDATIONS

GLOBAL CHOICE FOODS LIMITED    04739142

PICKQUICK CARRIERS LIMITED    06874635

SHOOTING BOX WOOD LTD    10293800

PETITIONS TO WIND UP

DCS LIGHT HAULAGE LTD    07048843

DMS TRANSPORT SOLUTIONS LTD    15172998

EURO COURIERS LTD    12265226

EURO EXPRESS LIVESTOCK LIMITED    06280917

UK TRANSLOGISTICS LTD    11665467

PETITION DISMISSED

HAPS LOGISTICS LIMITED     11620973

SECRETARY OF STATE LIQUIDATION APPOINTMENT

ABBY LOGISTICS LIMITED    08415228

UK NI TRANSPORT LTD    14412730

WINDING UP ORDERS

FREIGHT SOLUTIONS CONSULTING LIMITED    09331967

M AND M EXPRESS TRANSPORT LTD    12863983

SIM TRANSPORT LTD    07569058

STREAMLINE TAXIS (SOUTHAMPTON) LIMITED    00420673

UK NI TRANSPORT LTD    14412730

3 HOMES AND GARDENS

ADMINISTRATORS APPOINTED

ALEXANDER AND JAMES LIMITED    08384700

ASHLEY MANOR UPHOLSTERY LIMITED    02860130

CHATSWORTH HOMES GARBOLDISHAM LTD    13989135

DERBY LABOUR CLUB LTD    11443214

KEIGHLEY FURNITURE PROJECT    04178817

SALTIRE MOTORCYCLES LTD    12682894

CREDITORS’ VOLUNTARY LIQUIDATION DEEMED IN CONSENT MEETINGS

AVON GARDEN MACHINERY LTD    11460941

BLINDS DIRECT WORCESTERSHIRE LTD    14268769

D & I INTERIORS LIMITED    07656387

FLASHLIGHT LEISURE LIMITED    08651725

LEEDS COOKERY SCHOOL LIMITED    11098044

NORTHERN VINTAGE LIMITED    08813260

RADLEY FOOTWEAR LIMITED    01612736

RDJ SPORT LIMITED    11000538

THE GIN TO MY TONIC RETAIL LIMITED    12446497

WAVE PLUMBING AND BATHROOMS LTD    14523638

CVL LIQUIDATORS APPOINTED

2PERSONAL GIFTS LTD    10154013

ACM FOODS LTD    11774436

ABBEYGATE BUILDERS MERCHANTS LIMITED    02755338

BUTTERFLY BOUTIQUE (YORKSHIRE) LTD    12602404

BBD PET PRODUCTS LIMITED    06632740

BESPOKE KITCHENS AND BEDROOMS LLP    OC370984

COLOURFULL KITCHENS LIMITED    09022661

DC CLOTHING LIMITED    06964920

EDENSHIRE JEWELLERY & WATCHES LTD.    07370134

EAGLE CLOTHING LIMITED    10866484

FASHION LOUNGE LTD    10846532

HERITAGE SHEDS AND FENCING LIMITED    07411455

JOHN DENT (CHEMISTS) LIMITED    00374708

LPC RETAIL LIMITED    10203576

MANOR HOUSE FUNERAL SERVICES LIMITED    03641205

M J M BOATS LIMITED    09872548

MIRACLE HOMES LIMITED    11181361

SUSAN NICHOLAS BRIDAL LTD    09572164

THE UPHOLSTERY WAREHOUSE LIMITED    01599966

WHOLESALE SPORTSWEAR LIMITED    09894417

MEMBERS VOLUNTARY LIQUIDATIONS

DIRECT CARPET CO (BRIGHOUSE) LIMITED    07405242

DOUBLE RETAIL LIMITED    06789712

HEWLETT TURF & LANDSCAPES LIMITED    04553969

PETITION DISMISSED

STERLING ROSE HOMES LIMITED    10444573

PETITIONS TO WIND UP

LOUGHBOROUGH MARKET LTD    14072673

ST CENYDD FOOD STORES   

TAYLORMADE FURNITURE (MIDLANDS) LTD    10851410

THE DAPPER MAN LIMITED    09833835

THE MANOR AT PINEWOOD LIMITED    11894489

SECRETARY OF STATE LIQUIDATION APPOINTMENT

THE PATIO CENTRE LTD    06727794

WINDING UP ORDERS

SAFE WOOD KITCHENS LTD    12487579

4 VARIOUS SECTORS: CONSTRUCTION; EDUCATION; FOOD AND DRINK; HEALTH; HOLIDAYS; HOSPITALITY; MANUFACTURING; UTILITIES

ADMINISTRATORS APPOINTED

BASILDON CREDIT UNION LIMITED    IP00089C

ASHLEY MANOR UPHOLSTERY LIMITED    02860130

CHATSWORTH HOMES GARBOLDISHAM LTD    13989135

COLSHAW CONSTRUCTION LIMITED    10940052

DERBY LABOUR CLUB LTD    11443214

DREAMZ ENTERTAINMENT LTD    12411253

LUNA HOTELS LIMITED    11014036

MARBANK CONSTRUCTION LIMITED    02894161

VIDI CONSTRUCTION LTD    09961909

CREDITORS’ VOLUNTARY LIQUIDATION DEEMED IN CONSENT MEETINGS

AEROSOL INDUSTRIES LTD    12048600

A.R. WATSON BUILDING CONTRACTORS LIMITED    03169734

BP CARPENTRY LIMITED    08529524

BEL STEEL LTD    12311876

BERRISONS OF BRIGHTON LTD    15785467

CAREY NEWS LIMITED    04336976

CDF PRECISION ENGINEERING LIMITED    12139281

FJD TYRES LIMITED    06389637

FS MANUFACTURING LTD    12992017

MILNER & SON LIMITED    05968554

MODULAR HYDRAULIC SYSTEMS LIMITED    01398055

NORTHERN VINTAGE LIMITED    08813260

G&D BRICKWORK LTD    10798885

PENDLE HOUSING LIMITED    12057065

SSB YORKSHIRE LTD    14856589

THOM KIRBY HAIR LIMITED    09665971

VIVAAN FOOD LTD    09425992

CVL LIQUIDATORS APPOINTED

ALLEGRO HEALTH AND FITNESS LTD    10413041

BEARWOOD CORKS SOCIAL CLUB LIMITED    00172681

COMPKEY HEALTHCARE LTD    9172904

EDENSHIRE JEWELLERY & WATCHES LTD.    07370134

EDUCATIONAL PROGRAMMES ABROAD LTD    04670315

FISHER HEALTHCARE LIMITED    07812935

HARLEY STREET LONDON LIMITED    07596841

HIGH STREET SOLICITORS LTD     07015260

INSPIRED CONSTRUCTION AND DEVELOPMENT LIMITED    10746981

INTELLIGENT BUILDING GROUP LTD    07977817

INSPIRED CONSTRUCTION AND DEVELOPMENT LIMITED    10746981

MANOR HOUSE FUNERAL SERVICES LIMITED    03641205

OLD PORTSMOUTH PUB COMPANY LIMITED    13060090

SUSAN NICHOLAS BRIDAL LTD    09572164

SWJ ALE & FOOD COMPANY LIMITED    11475727

TAMWAY CONSTRUCTION LIMITED    08071685

THE UPHOLSTERY WAREHOUSE LIMITED    01599966

W.E. HAIR & BEAUTY LTD    12419975

MEMBERS VOLUNTARY LIQUIDATIONS

BOUNDY PLUMBING & HEATING LTD    11874694

BRIDGELOCK ENGINEERING & MARKETING LIMITED    01774413

CATCH22 MULTI ACADEMIES TRUST LIMITED    08299181

CORNERSTONE LABS LTD    08829772

ESSEX MASONIC PROPERTY COMPANY LIMITED    02989607

LG METALS LTD    11241294

METHODIST HOLIDAY HOTELS LIMITED    00361879

MORGAN STANLEY CAPITAL GROUP ENERGY EUROPE LIMITED    06165157

STOURPORT NURSING & HOME CARE LIMITED    02784388

THE SCOTTISH HIGHLAND RAILWAY COMPANY LIMITED    06565698

TRADITIONAL ROOFING (LONDON) LIMITED    05121684

UROLOGY AND HEALTHCARE LIMITED    07931153

UNIQUE HOMES AND DEVELOPMENTS LTD    12763474

PETITION DISMISSED

DALMACIA HOTELS LIMITED    08538956

NAD CONSTRUCTION LTD    11676656

UNO HOTELS LIMITED    14886014

PETITIONS TO WIND UP

DIRECT CARE CHILDRENS HOMES LTD    12413917

DBM CONSTRUCTION SERVICES LTD    15401108

SELECT JOINERY (TELFORD) LIMITED    06857021

THE WAPPING AND SHADWELL SECONDARY EDUCATION TRUST    07412515

UNITED MEDICAL HOSPITAL SYSTEM LIMITED    11385416

WAVES HOTELS GROUP LIMITED     13517914

ZEN STEEL BUILDINGS LTD    14712862

SECRETARY OF STATE LIQUIDATION APPOINTMENT

PURE ORGANIC DRINKS LIMITED    11330618

WESTGARTH WORKING MEN'S SOCIAL CLUB  

WINDING UP ORDERS

APOLLO BUILDERS GROUP LIMITED    11895238

BATCHELORS BUILDING LTD    09185599

CLIVE VALE NURSERY SCHOOL LIMITED    08365195

DAMMIKAS RESTAURANTS UK LIMITED    12470370

FIRST CATCH (FILEY) LIMITED    08036295

FUEL STORAGE SYSTEMS LIMITED    10979467

IMMIGRATION AND NATIONALITY SERVICES LIMITED    07221708

OFFSET ENERGY MANAGEMENT LIMITED    08233587

SAMON FILMS LIMITED    08191153

SAVEHEATENERGY RENEWABLES LTD    08444361

WEST HILL DENTAL CLINIC LTD    05218356

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• Free online suite of legal letters and final demands
• Specialist team ready to recover unpaid invoices
• Polite, professional mediation to preserve customer relationships
• Hardline legal options when needed
• Late payment interest, compensation, and fees recovered under the Late Payment of Commercial Debts Regulations 2002

Why Act Early?
Passing overdue accounts to ICSM early increases your chances of full recovery. Our multi-channel approach—calls, emails, and letters—ensures the right message reaches the right people at the right time.
We understand that non-payment often stems from miscommunication. That’s why we focus on resolving issues while protecting your reputation.


ICSM CREDIT
For information on ICSM visit www.icsmcredit.com or call 0844 854 1850.
ICSM, The Exchange, Express Park, Bristol Road, Bridgwater, Somerset TA6 4RR. Tel: 0844 854 1850. 

www.icsmcredit.com

Ian.carrotte@icsmcredit.com

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Types of Insolvency
Administration

Administration applies to limited companies and partnerships and is intended to get the company out of trouble and trading again if possible. Administrators can be appointed to a company that is unable, or is likely to become unable, to pay its debts. They can be appointed by the courts (on application from a creditor, directors or partners), the holder of a qualifying floating charge over the assets of the business, or the company or its directors. An administrator's primary goal is to rescue the company as a going concern. If this isn't possible, the administrator will try to get a better result for the creditors than would be possible if the company was wound up. If neither of these is possible, the administrator will sell the company's property to make at least a partial payment to one or more secured or preferential creditors, such as employees or the bank.
Administrators Meetings Para 51
This statement by the administrator of his proposals must be accompanied by an invitation to an initial creditors' meeting (Sch B1, para 51(1)).
Bankruptcy
This can only apply to individuals (including sole traders and individual members of a partnership). Bankruptcy petitions may be presented to the court by the individual, by creditors who are owed £750 or more, or by the supervisor of an individual voluntary arrangement. A bankruptcy order is made by the court.
Company Voluntary Arrangement (CVA)
A company comes to an arrangement with its creditors to pay the debts in full or in part over time. A CVA begins with the company (or its adviser) drafting a formal proposal at a Creditors' Meeting to pay part or all of the debts. If the proposal is accepted by the creditors, the arrangement will become legally binding and the directors will retain control of the company.
Compulsory Liquidation
This is the winding up of a company or a partnership by a court order (a winding up order). A petition is normally presented to the court by a creditor stating that he or she is owed a sum of money by the company and that the company cannot pay.
The Official Receiver becomes liquidator when the order is made but an Insolvency Practitioner will be appointed to take over if the company has significant assets. The liquidator's role is to realise the company's assets, pay all the fees and charges arising from the liquidation, and pay the creditors as far as funds allow in a strict order of priority.
Compulsory Liquidators Appointed S 136
When a winding-up order has been made, the Official Receiver is initially appointed as liquidator (section 136, IA 1986). The company's creditors and contributories may appoint another individual, who must be a registered insolvency practitioner, to act as liquidator (section 139, IA 1986). More than one liquidator can be appointed to act jointly.
Creditors' Voluntary Liquidation
Here the shareholders pass a resolution to wind the company up without the need for a court order. A Creditors' Meeting is held to nominate the appointment of a liquidator and consider a statement of affairs. Creditors can appoint a committee to work with the liquidator, whose role is to realise the company's assets, pay all the fees and charges arising from the liquidation, and pay the creditors as far as funds allow in a strict order of priority.
Creditors' Voluntary Liquidation Deemed in Consent Meeting
Creditors are now 'deemed to have consented' to a decision or resolution if 10% of creditors (by value) have not objected to it. In other words, if objections are not received by the specified decision date, creditors are 'deemed to have consented' to the decision or resolution.
Individual Voluntary Arrangement (IVA)
An individual comes to an arrangement with creditors to pay his/her debts in full or in part over time as an alternative to bankruptcy. The arrangement is set up by a licensed Insolvency Practitioner who will put it to a meeting of creditors. If the proposal is accepted at the meeting, the agreement reached with the creditors will be legally binding. An Interim Order is sometimes issued by a court and will immediately protect the debtor from any legal action by creditors.
Petitions to Wind Up
A winding up petition is a legal notice put forward to the court by a creditor. The application, in effect, asks the court to liquidate the company as they believe the company is insolvent. Proceeds of the liquidation can be used to pay back creditors.
Secretary of State
The Secretary of State may appoint an insolvency practitioner as liquidator or trustee as an alternative to holding a meeting of creditors in certain circumstances.

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