We reported in detail on the finances and risks in the food and beverage sector in early December 2021, just as the Omicron variant was emerging as the latest wave of the pandemic. With the exception of the travel industry, no UK sector has suffered more disruption and commercial damage than our pubs, clubs, bars and restaurants. Four months on,
Many businesses use temporary labour from specialist labour supply companies, whether they are in agriculture, food processing, construction, healthcare or other sectors. Statistics from the Office for National Statistics published in Q3 2021 showed that the temporary labour market had grown by 5% in the previous twelve months. The use of umbrella companies as the conduit for filling temporary vacancies
The end of the ban on Winding Up Petitions One of the key measures in the government’s attempt to protect businesses badly affected by the pandemic was to insulate them from being wound up by unpaid creditors. There was a total ban on the issuing of a Winding Up Petition (WUP) from March 2020 to September 2021 and then a
Of all the many restrictions placed on creditors to protect businesses during the pandemic, none have been as long lasting or wide ranging as those, which have prevented the enforcement of rent arrears throughout the crisis. This shelter has been vital to many viable but cash-strapped enterprises, but as from 25th March 2022, the full panoply of remedies will be
The Covid crisis has taken many accepted truths and thrown them up in the air, like a confetti of commercial confusion. In our first article looking at how credit management has been changed, we focused on some of the basics: interpreting unreliable financial data, how a trio of global financial negatives may have worsened even some of your best-known risks
Credit risk disciplines The Coronavirus crisis has not so much moved the goal posts for credit management professionals as relocated the game to another stadium and changed half the rules. Nothing is what it was, so while the old basic credit risk disciplines remain vital, there is a whole new range of techniques that must be applied. In this mini-series
