Debt is not an easy matter to deal with. The last couple of years have possibly been the hardest for many businesses, large or small, due to the impact of the coronavirus pandemic. Sadly, for some business owners, it’s difficult to see a way past the debt and into recovery. Being in debt, whether it’s …
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Voluntary administration is an alternative to liquidation when winding up an insolvent company. It is used to protect the company from any legal action by creditors as the company voluntarily agrees to pay regular payments to settle their debts over a period of time. An appointed administrator handles the voluntary administration process, as well as …
Many company directors in the UK have never faced the prospect of being unable to pay their creditors, nor having to deal with insolvency. But 2020 has been a year of firsts for many businesses across the UK. For directors, it’s tough enough to admit there is a problem and to seek advice. It’s even …
In the UK, winding up a company, any liquidation process and some debt management or business rescue arrangements must be handled by a licensed insolvency practitioner, or IP. An IP is authorised, according to the provisions of the Insolvency Act 1986, to handle individual and company solvency and insolvency matters. Who can act as an …
Businesses can at times face financial difficulties including cash flow issues, large debts and potentially on the verge of insolvency. Firstly, don’t panic. Secondly, get advice from a business recovery services expert on how to deal with business debt and restructuring the company to turn it around. What is business recovery? Business recovery refers to …
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Simple Liquidation
