Business Rescue

Creditors -Voluntary-Liquidations

Why Are Creditors’ Voluntary Liquidations So Popular in Town?

After two years of the coronavirus pandemic (and there doesn’t seem to be much relief from it as we head into winter), retailers, small businesses, and companies in certain industries, like travel and hospitality, have struggled to keep going. In order to stay in business, many companies have adopted a particular tool in the restructuring …

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Insolvency Practitioners

How Insolvency Practitioners Return Insolvent Companies to Solvency?

Just because your business is currently insolvent doesn’t mean that it can’t be rescued and returned to a solvent company. Part of an insolvency practitioner’s (IP) role is to assess the company’s current state of affairs, i.e. the how and why it became insolvent. If the basis of the company is essentially sound, they may …

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corporate recovery

What Happens When a Corporation is Unable to Pay its Debts?

Predominantly due to the impact of the Covid-19 pandemic, Creditors’ Voluntary Liquidations (CVLs) are on the up. In August 2021, there were a total of 1,446 corporate insolvencies across the UK, most of which were CVLs; the fourth month in a row above 1,000 and a return to pre-pandemic levels. What was also evident in …

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Provisions for Voluntarily Winding Up a Company

What Are the Provisions for Voluntarily Winding Up a Company?

Whether the company is solvent or insolvent, sometimes the only option available to directors is to enter a voluntary winding up process to close the company.  Also known as liquidating or closing down a company, the ultimate result is removing the dissolved company from the Companies House register. If it’s a solvent company, i.e. has …

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insolvency practitioner services

Business Insolvency Advice to Recover From The Crisis

When a company is financially in trouble, no matter what the size of the business, seeking advice quickly is vital. It is incredibly stressful having to deal with creditor pressure, late penalties and the threat of legal action on a daily basis, not to mention facing rising debts and inability to meet the company’s monthly …

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