The latest statistics published by the Government’s Insolvency Service have shown that the number of companies going into liquidation has increased in the first three months of 2017. In the period January to March there were 3,529 company liquidations, an … Continue reading
Category Archives: Cashflow problems
The tax man is threatening to wind up my business – what can I do?
A very common reason for business owners to contact us is that they have been threatened with winding up by HM Revenue and Customs (HMRC). This is bound to cause sleepless nights about what to do next. The good news … Continue reading
Happy New Year! (unless you’ve got a VAT bill you can’t afford…)
The New Year is a time for celebration, reflection on last year and new resolutions and new opportunities for the year ahead. But for many business owners, a VAT bill due for payment in January or February can be an … Continue reading
Insolvencies rise as Brexit uncertainty shakes confidence
LATEST government statistics have revealed that the number of companies going bust and people becoming insolvent in England and Wales is once again on the increase. From what I can see, the figures are a reflection of continuing economic uncertainty … Continue reading
New company rescue proposals put forward
Insolvency trade body R3 has made a series of proposals for introducing a new raft of provisions which would create better opportunities for companies to be turned around, with the aim of rescuing more businesses. The body has called for … Continue reading
UK SMEs owed billions in unpaid invoices
UK small and medium sized businesses are owed £67.4bn in unpaid invoices , an increase of 8% from last year and 36% from £49.5bn in 2011, according to new research from the Asset Based Finance Association (ABFA). The rise is … Continue reading
Fewer businesses in distress as economy bounces back
The number of British businesses showing signs of distress has reduced dramatically according to new research published today. However a large number of businesses are still under pressure, with a third of businesses still in need of help. The research, … Continue reading
Are high street retailers flogging a dead horse?
The recent spate of high profile insolvencies involving well-known high street names has brought problems in the retail sector into sharp focus. The list of casualties is growing steadily and some may question whether high street shops as we know … Continue reading
When is the right time to speak to a licensed Insolvency Practitioner?
I was chatting to someone recently who told me that they were concerned about their business as they were experiencing cash flow problems and had some significant debts that could not be paid. I wasn’t talking to them in my … Continue reading
Promises, promises… Directors of struggling businesses need to be careful what they say
There is a tendency for directors of struggling businesses to delay taking advice, in the hope that ‘something will happen’. But if debts are building up, directors need to take care that they do not do or say anything that … Continue reading