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50% increase to bankruptcy and liquidation fees
Just months after lifting the temporary restrictions on winding-up petitions, the Government has revealed plans that will make it harder for thousands of SMEs and microbusinesses to collect debts and force debtors into insolvency procedures. The Insolvency Service plans to hike in the cost of two key payments later this year. Firstly, the deposit a…
Read More3 alternatives to liquidation for directors
A clever director will be considering their options as the number of corporate insolvencies continues to rise in 2022. Still, try not to make rash decisions as they can lead to bad results. There are several alternatives to liquidation that can help a proactive director move forward with an insolvent but profitable business. An agreement…
Read MoreBBC expose unregulated investment scam
The BBC has shone a light on a huge investment scheme failure this week in Panorama: The Billion Pound Savings Scandal. The show centres on the failure of unregulated investment scheme Blackmore Bond, which collapsed owing investors over £40m. As per many of these situations, prospective investors were: Nevertheless, the scheme collapsed in April 2020…
Read MoreWhat makes an independent insolvency expert?
An independent insolvency expert’s job can be tough, complicated, rewarding and at times exciting. It requires the application of several abilities, including intelligence, excellent people skills and technical knowledge. The ability to assess situations and how to attack each one is paramount. Of course, deep knowledge of insolvency law is vital. Insolvency is a fast…
Read MoreThe looming insolvency crisis
Back in May, we warned that a wave of company failures would hit UK firms in the latter half of 2022. Just three months later, it appears the situation may be even grimmer than predicted. This week, reports revealed that corporate insolvencies were up more than 80% in the past quarter compared to 2021. This…
Read MoreMcDonald’s profits as UK restaurants flounder
American fast food chain McDonald’s recently announced plans to increase the price of some items on their UK menu. In a carefully-worded statement, McDonald’s U.K. and Ireland CEO, Alistair Macrow claimed that: “Just like you, our company, our franchisees who own and operate our restaurants, and our suppliers are all feeling the impact of rising…
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