List of Companies in Administration - Credit Insurance protects against sudden bad debt.

The following companies went into administration between 17th April and 24th May 2012.

If you have a credit insurance policy and one of your customers enters administration, you should notify the loss immediately, so that your claim can be dealt with swiftly.

Company insolvency statistics show increase in failures

The BBC report that there has been a 10% increase in the number of companies that went into administration or insolvency, in England and Wales in the first three months of 2012. 

1,290 firms had receivers or administrators appointed, compared with 1,173 in the last three months of 2011.

Read the full article here

Double-dip recession official - Credit Insurance protects trade

The UK is officially now in a 'double-dip' recession as our economy contracted 0.2% in the three months to the end of March, after a 0.3% decline in the last quarter of 2011, providing two successive quarters of a decline in output.

The BBC's Economics editor writes, "These figures are slightly worse than many expected, but the fact that the UK is now technically back in recession should not detract from the underlying reality, which is very much as predicted. The UK economy has been bumping along the bottom for more than a year and is still struggling to gain momentum".

Trade credit news - Aquascutum in administration

Clothing manufacturer Aquascutum have called in the administrators after 160 years trade, and their factory in Corby has been closed.

The business was bought by Jaeger's owner Harold Tillman and its chief executive Belinda Earl in 2009 but it continued to make "significant losses" despite their efforts to turn it around, according to administrators at FRP Advisory, who are now seeking a buyer for the business.

Over the last three years, shareholders invested around £30 million in a turnaround plan.