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Today’s news in brief – 16/1/2023

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Corporate insolvencies have dropped by 18.9% in December 2023 to 2,002, compared to November’s 2,470. However, they increased by 1.9% from December 2022. The types included 153 compulsory liquidations, 1,731 creditors’ voluntary liquidations (CVLs), 103 administrations, and 15 company voluntary arrangements (CVAs). Although CVL numbers were higher than in 2022, compulsory liquidation and administration numbers were lower. R3’s Nicky Fisher attributes the monthly fall to reduced compulsory liquidations, CVLs, and administrations. Year-on-year rises are linked to increased CVLs and slight CVA upticks amid challenging business conditions in England and Wales.

Shaw Gibbs has finalised its acquisition of Nottingham-based firm DNG, marking its fourth acquisition in six months. With a 260-person strong practice across six offices, Shaw Gibbs expands its service suite, covering tax planning, audit, outsourcing, and business advisory services. DNG, an independent chartered accountants firm, adds to Shaw Gibbs’ diverse client base, from private individuals to charities and large companies. The acquisition aligns with Shaw Gibbs’ strategic growth, offering a bright future with expanded capabilities. DNG’s Ian Robson expresses confidence in the partnership, emphasising mutual benefits for ongoing success.

Accountancy firm Shorts has promoted Alicia Williams to Genus director, recognizing her exemplary skills and contributions to the development of the Genus Management Information offering. Williams, a chartered certified accountant and Xero specialist, joined Shorts in 2016, progressing through various roles. Her promotion reflects Shorts’ commitment to employee growth and showcases her active role in enhancing efficiency and introducing software solutions. Williams expresses excitement about her new role, contributing to the firm’s success and working closely with clients. Shorts partner Malcolm Pope commends Williams’ leadership and contributions to the wider accounting community.

Bristol-based invoice finance provider Optimum Finance welcomes Hazel Hastings and Savannah Smith as account executives. Hastings brings nine years of experience in credit and financial services, specialising in customer service and client management in the invoice finance space. Smith, a former recruitment consultant and business development executive, contributes expertise in client negotiations. The new hires strengthen Optimum Finance’s team dedicated to client servicing, credit control, and new business development. Ant Persse, CEO of Optimum Finance, highlights their role in supporting UK SMEs seeking financial assistance and facilitating business growth.

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