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The apparent astonishment expressed by Adrian Bailey MP regarding “unregulated receivers” working in banks might seem slightly misconceived. However, similar views held by the public at large are damaging to the licensed insolvency profession.

The recent announcement that Kent based Aylesford Newsprint has filed for Administration is further confirmation of the issues facing the recycling and waste management sector. This follows UPM’s announcement that it will be decommissioning one of its two newsprint machines in Deeside. So what are the issues facing the sector? Ben Stanyon, Senior Manager at Moorfields Corporate Recovery expands:

For some time there have been murmurs of trouble brewing for businesses connected to the UK’s offshore oil and gas industry and there is evidence of a notable uptick in the number of formal insolvencies across the sector. Given their proximity to the North Sea oil and gas fields, cities such as Aberdeen and Norwich rely heavily on the oil and gas industry for employment and inward investment. However, the supply chain extends across the UK so this is not an isolated regional issue.

As insolvency practitioners and restructuring specialist we at Moorfields see a significant proportion of business failures and insolvencies arising as consequence of working capital shortfalls.

We are all familiar with the idea that fundamental changes to the retail landscape have been driven by technological innovations which, in turn, have driven a shift in consumer behaviour. Current estimates suggest that online purchases account for £1 in every £5 spent on a credit or debit cards in the UK and that total online spending will top £100bn over the next year. Innovations such as supermarket loyalty schemes gather huge amounts of consumer data allowing retailers to develop complex algorithms, anticipating how their offering should be targeted and adjusted to meet demand but also forecasting how consumer behaviour can be “nudged” based upon what people seem to want, need and desire without even knowing it. However, there have also been fundamental changes on the supply side and, in particular, to the way in which retailers interact and transact with their suppliers.