Displaying items by tag: news

Fans of comic book spin-off magazines and collectibles are mourning the news that Eaglemoss Ltd has filed for administration under the burden of massive post-pandemic debts.

In operation since 1975, Eaglemoss had grown into a leading specialist in licensed collectibles, producing, marketing and selling merchandise for cult film and TV series like Dr Who, Star Trek, Ghostbusters and DC Comics.

In particular, it is recognised as the world’s biggest name in so-called part works publishing -  a sub-category of the magazine industry that focuses on serialised, collectible publications with time-limited runs. Part works publications are often accompanied by free gifts for readers to collect. 

Published in Credit Control

Contractors could end up footing the bill after a recruitment agency director who swindled HMRC out of millions in unpaid taxes received a paltry eight-year disqualification.

Adrian Sacco ran Manchester-based Best Employment Services (BES), an umbrella payroll company targeting high-earning contractors in IT, engineering and HR

The 55-year-old, who company records show has been director of a string of liquidated or dissolved payroll agencies over the years, faced investigation by the Insolvency Service after BES was wound up in 2019 owing at least £4.1m in tax to HMRC.

Published in Debt Collection

Former Wimbledon champion Boris Becker has been sentenced to two and a half years in jail for failing to disclose millions of pounds worth of assets in a high-profile bankruptcy swindle.

The tennis ace, 54, was found guilty on four charges at Southwark Crown Court on April 8 2022.

The case was brought in relation to Becker’s bankruptcy dating back to 2017. In June that year, he was declared bankrupt over failure to keep up with repayments on a £3.85m loan from German bank, Arbuthnot Latham.

Published in Debt Collection

One in four freelancers are thinking about ditching self-employment because of problems getting paid on time, according to new research.

In a survey carried out by payment platform WondaPay, 24% of freelancers said they were considering looking for permanent employment because of persistent problems with late payments.

Published in Credit Control

The government is set to take action to slam shut a loophole in insolvency rules frequently used by unscrupulous directors to escape investigation over failed companies.

Creditors have long complained that the Insolvency Service’s inability to open cases into dissolved companies has handed directors an opportunity to dodge accusations of malpractice.

Published in Debt Collection

It’s a sad but well-documented fact that the most unscrupulous individuals will happily try to exploit any crisis for their own gain.

So it was in spring 2020, almost as soon as the first COVID-19 lockdown kicked into gear, that there was a wave of reports of pandemic-related email and phone scams, trying on everything from fraudulent PPE sales to ‘phishing’ for personal information through bogus medical registrations. 

Published in Credit Control

At Safe Collections, we’ve been banging the drum on the UK’s late payment culture for years, making the case over and over again that without the stick of meaningful enforcement, there is little incentive for large companies to stop holding smaller suppliers over a barrel when it comes to payments.

Finally, it seems like the message may have gotten through to the government, although on account of the time it has taken, we can only conclude they are listening reluctantly.

Published in Credit Control

It’s a billion-dollar industry that, unless you take your video gaming seriously, you might not even know exists. But the world of esports - competitive cash-prize and professional video gaming - has become big business, with live events attracting audiences of millions online and in person, not to mention highly lucrative corporate sponsorship deals.

Published in Credit Control

The latest official figures detailing the number of convictions and other enforcement actions made under the Companies Act show that Insolvency Service activity is down by as much as 50% year-on-year in a number of key indicators.

The Insolvency Service publishes monthly statistics detailing the number of prosecutions, fines and winding up orders it has executed against individuals and businesses for breaching rules relating to the fit and proper running of businesses. Many of the actions are made under the terms of the Companies Act 2006, which sets out clear responsibilities for company directors and makes individuals personally liable for mismanagement of businesses leading to insolvency.

Published in Credit Control

One of the most notorious incidents of cyber crime to date also stands out for the bare-faced cheek and simplicity of the methods employed. When criminals targeted Austrian aerospace firm FACC, they didn’t bother trying to hack into the company’s IT systems, bring down firewalls with a DDoS attack, or plant malware on its servers to quietly mine sensitive data.

Instead, they simply impersonated CEO Walter Stephan, sending a fake email in his name authorising a junior member of the accounts teams to send $47m to what the email claimed was the bank account of a company Mr Stephan was negotiating to buy. It wasn’t, and the thieves made off with the biggest single haul in cybercrime history.

Published in Debt Collection
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