Credit people have been talking about the credit crunch and it’s potential fallout since last autumn, but despite all the gloom and doom merchants around, the impact is still not being felt in the general market to the level that was anticipated. Okay, credit insurers are reporting that claims are going up, and so is debt collection work, but any substantial increase in liquidations figures are conspicuous by their absence so far. This was also confirmed this morning when I spoke to one of the leading insolvency practitioners- any significant increase in workload hasn’t come through yet.
Let’s hope this is all good news, but most credit experts are sticking to their assessment that we may all be in for a period of more difficult trading and risk conditions lasting between 12 and 24 months. Are we therefore experiencing the calm before the storm?
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children