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/2018

The High Street is dead! Long live the High Street!

By Admin | Monday, November 19, 2018

The imminent, inevitable, incontrovertible demise of the UK High Street has been written about many times in recent years. So much so, that I have never really thought it worthwhile to put together a piece on a subject that is well travelled ground. Hardly a week goes by without another old established department store group or celebrity chef chain throwing itself at the mercy of its creditors by attempting to downsize and restructure through the Administration or Company Voluntary Arrangement insolvency processes, resulting in closed outlets and job losses. Well that was until earlier this month [the same month that saw the demise of Woolworths 10 years ago] when I started to see the number 14 combined with the words High Street everywhere. Let me explain. At the beginning of the month, one of the “Big Four” accountancy firms came forward with a report showing that High Street shops were closing at the rate of 14 per day in the UK’s top 500 High Streets. The gap between closures and openings has widened to a record level, but it is suggested that closures may have stabilised. The reasons for the decline are well known:

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Companies House – user beware

By Admin | Monday, July 9, 2018

“Long firm fraud” given a helping hand by the openness and visibility of the information at Companies House... As my long departed Great-Grandmother used to say to me “There’s nowt new under the sun”. Long firm fraud has probably been around as long as credit itself - a nice little earner, much used back in the 1960s by East End villains, has not gone away and in this era of increasing identity theft, this type of fraud is very much on the increase.

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Zombie business’ numbers drop to record low

By Admin | Wednesday, February 7, 2018

How do you kill a Zombie company? by having an interest rate rise of course! In November 2015 we reported that Zombie companies-those businesses that can just about pay the interest on their bank debts, but little else, had seen a dramatic decline [much to the chagrin of us Insolvency Practitioners].

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