In October 2024, company insolvencies dropped by 10% compared to September 2024, and were 24% lower than October 2023. However, insolvencies remain significantly higher than pre-pandemic levels, reflecting ongoing economic challenges. October 2024 Breakdown: Total Insolvencies: 1,747 (compared to 1,950 in September 2024) 🔻 Creditors’ Voluntary Liquidations (CVLs):1445 cases, down 7% from last month, 83% […]… Continue Reading

If your address has been used as a company’s registered office without your consent, there are clear steps in place to address this issue, thanks to the Companies (Address of Registered Office) Regulations 2016, effective since 6 April 2016. This default address is used in cases where an address may have been listed without proper […]… Continue Reading

Understanding Trading Experiences in Construction Credit. In the world of construction, making informed credit decisions is crucial. Businesses need to rely on timely and accurate information to safeguard themselves against financial risks. Top Service’s trading experiences play a pivotal role in this process, providing companies with the detailed insights necessary to evaluate potential credit extensions. […]… Continue Reading

Emma Reilly, FCICM, CEO of Top Service Ltd and a renowned credit expert, expresses her delight in announcing that Top Service has successfully recovered over £100 million for its members. This achievement highlights the effectiveness of the comprehensive range of debt recovery services the company provides.… Continue Reading

Over the past two decades, Rachel has not only witnessed significant growth within the company but has also experienced personal and professional development. In her reflection, Rachel shares insights into her journey at Top Service and highlights some of the most notable achievements of our members. We’d like to take this opportunity to thank Rachel […]… Continue Reading

Credit management involves making sure a business gets paid for the goods or services it supplies by checking that the potential customer is creditworthy, then taking all necessary steps to turn the invoices it raises into cash. Put simply, it’s minimising risk and maximising cash. Using his credit management experience that spans over decades, Philip […]… Continue Reading

The ISG Construction Ltd’s statement of affairs has been filed. Here are some key points: ❗ The total amount of un-secured creditors is listed at around the £90,000,000 mark. ❗ISG Central Services Ltd is listed as the creditor with the highest value owed at £48,344,934.83. ❗The next, in order of value is HMRC at £24,245,968.82 […]… Continue Reading

Insolvency figures for September 2024 reflect both monthly and yearly changes, alongside significant developments in the construction sector. Total Company Insolvencies:1,973 cases, marking a 2% increase from August 2024 with 30 more cases, but a 7% decrease compared to September 2023. Breakdown by Insolvency Type: Creditors’ Voluntary Liquidations (CVLs):1,575 cases, up 2% from last month. […]… Continue Reading

When a company faces insolvency, administration can offer salvation – a chance to reorganise and breathe. This legal process, introduced by the Insolvency Act 1986, aims to rehabilitate struggling companies, giving them some much-needed “breathing space” from creditors while they work towards recovery. What is Administration? Administration allows an insolvent company to be restructured and […]… Continue Reading

Compulsory liquidation is a legal process where a court orders the winding-up of an insolvent company, typically at the request of a creditor, because the company cannot pay its debts. Once the order is made, the company ceases trading, and an appointed liquidator will sell the company’s assets to repay creditors. Key Facts: Petition to […]… Continue Reading