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Insolvencies at Four Year High
It was reported this week that company insolvencies are the highest they have been in four years; with Directors voluntarily closing up shop. This is due to a rise in Company Voluntary Liquidations (CVL’s). Trading conditions in the UK remain tough after the couple of years of lockdowns. Not to mention the rising cost of…
Read MoreFood Sector on the Brink of Collapse
There were warnings this week that the food sector is on the brink of collapse. The governments Autumn budget really needs to step up. The number of restaurant and food outlets going into liquidation nationally increased by 46% in the quarter to September 2022. Not only are people cutting back on expenses as the cost…
Read MoreThe Cost of Living Crisis
The current cost of living crisis needs no introduction. Everyone is feeling it. You go to the supermarket only to find essential like eggs and milk have soared in prices. Not to mention the dreaded rise in energy bills. Thing look pretty bleak to be honest. We’ve seen a really unfortunate set of circumstances in…
Read MoreBeginner’s Guide to Corporate Insolvency
– Business Guide – A beginner’s guide to ‘Corporate Insolvency’ that will make the difference when facing tough business decisions. This book shares the vital knowledge you need to succeed including how to recover debt. AVAILABLE NOW!
Read MorePros and cons of the moratorium procedure
Under the provisions of the Corporate Insolvency and Governance Act 2020, struggling companies can be placed into a new statutory insolvency procedure. But what are the pros and cons of the moratorium? The moratorium provides up to 40 business days of protection from creditors. This should be ample time to secure additional investment and remodel…
Read MoreHow should builders and tradesmen collect overdue debts?
According to figures released by the Office of National Statistics, the building and construction industry contracted 1.9% in the third quarter of 2015, which suggests contractors will be tightening their belts this year as the market becomes more competitive. This is particularly bad news for roofers, plumbers and other subcontractors (‘subbies’). Why? Because in a…
Read MoreConstruction sector suffers the most as UK SME’s are owed £67bn in unpaid invoices.
According to a report published by the ABFA (Assets Based Finance Association) the UK SME’s are owed over £67.4billion in unpaid invoices. This figure which is up 8% from last year and a huge 36% from 2011 is considered conservative as it was taken from only 180,000 SME’s across the country who have submitted detailed annual accounts.…
Read MoreF1 Racing Team Lotus, faces creditor pressure with a winding up petition
Big Insolvency news this week as one of the leading Formula 1 teams, Lotus, has been issued with a creditors winding up petition. Lotus were summoned to appear in the Companies Court on Monday 6th July and managed to have the hearing delayed for 2 weeks, so they can have some time to negotiate with…
Read MoreInsolvency & Law nominated for “Insolvency and restructuring firm of the year 2015
Insolvency & Law are proud to announce that we have been shortlisted for the prestigious “Lawyer Monthly Legal Awards 2015” in the “Insolvency and Restructuring Firm of the Year” category. http://legalawards.lawyer-monthly.com/ “The Legal Awards” has been recognising achievement and success in the UK legal industry since 2009 and past winners of the prestigious award have…
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