These are petitions that are filed at the courts but are not yet advertised at the Gazette or have made it to an official court list like our current unadvertised petition feed. This data is proving to be an early indicator of potential insolvency with most examples being flagged at least two weeks before the official notice hits the Gazette.
Companies with this negative information will be shown on the banner at the top of a company report, where you can click on View More for more details.
An example of this is the recent company failure of Missguided Limited (now called MGL Realisations (2022) Ltd). Looking back at the initial stage petition data, the initial petition feed would have flagged this up on May 10th 2022 as seen below.
At the time, we would have received 2 notices that Initial Stage Petitions had been filed first on the 10th then a second on the 12th of May. Although Creditsafe moved the company to an uncreditworthy score on the 27th of May, it took a full 3 weeks before we received a HM Court Application of a notice to appoint an administrator on the 31st before an official notice was published in the Gazette on 1st June 2022.