IVAs explained: everything you need to know
It’s not uncommon for small businesses to face financial difficulty. However, when a business is struggling, it can be really difficult for sole traders... [Read more...]Filed Under: Insolvency
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When should I consider administration?
If your business has fallen on hard times and becomes insolvent, you will face a variety of options. Three of the most common options for insolvent... [Read more...]Filed Under: Insolvency, administration
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Crisis management: how to recover your business
From fires to flooding, power faults to flu, unplanned events can be very difficult for businesses to recover from. In some situations, you might struggle... [Read more...]Filed Under: Insolvency, Business rescue, small business flood relief
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Fixed and floating charges: the facts
When a company borrows money from a lender, it’s not unusual for the lender to ask for some sort of security for the debt. This is to protect the lender’s... [Read more...]Filed Under: Insolvency
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What happens to my company’s credit rating after insolvency?
The Insolvency Act defines a company as insolvent if the company fails to pay its debts as they fall due, or if the company’s liabilities on the balance... [Read more...]Filed Under: Insolvency
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Insolvency trends in 2019
According to the Insolvency Service, total company insolvencies have continued to increase in the last two quarters of 2019, with an increase of 1.6% from... [Read more...]Filed Under: Insolvency
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What do I need to be aware of when selling my company’s assets?
Most businesses will accumulate a substantial amount of assets over time. If your company is becoming insolvent, your assets will either be sold prior to... [Read more...]Filed Under: Insolvency, debt advice
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At what point should I speak to an insolvency practitioner?
Whether you want to rescue your business or close a company that’s run its course, if your business is experiencing financial issues - or if there is... [Read more...]Filed Under: Insolvency, debt advice
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The key differences between bankruptcy and liquidation
Bankruptcy is the process of getting rid of all unsecured debts by the selling of assets owned by the debtor. It’s different to the liquidation process as... [Read more...]Filed Under: Insolvency
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Business debt advice for directors of distressed companies
Financial distress is a very difficult time for directors. Not only do you have to start navigating insolvency jargon and working out what’s best for your... [Read more...]Filed Under: Insolvency