We have come across a growing trend of subcontractors who are facing financial difficulty, and in some cases becoming insolvent, because of unexpected and at times unwarranted or invalid Pay Less Notices (PLNs) issued by main contractors....
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The Directors of a mechanics and motor parts supplier based in Peterborough have been banned for a total of 25 years after the pair provided false documents to secure £176,000 worth of loans. Adam Hughes received a 13-year disqualification...
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The number of registered company insolvencies in August 2021 was 1,348 which is at the same level as pre-pandemic figures The latest monthly release of insolvency statistics for England and Wales was published on the 17 September 2021....
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While the overall number of registered company insolvencies remains lower than pre-pandemic levels, driven by the lower number of compulsory liquidations, CVLs are similar to pre-pandemic levels. The latest monthly release of insolvency...
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Jacob Isaacs & Co Ltd, incorporated in August 1998 and classified as being in the wholesale trade was run by Isaac Jacobson, 51, from Salford until it was liquidated in July 2017. As part of the liquidation, the Insolvency Service...
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We’ve looked at how to spot signs of financial distress in your business, as well as your duties as a director. Now, let’s look at what the options are for your business. Restructuring plan With this option, time and speed are...
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If you are a company director and you fail to undertake your duties ( if you need a reminder of what directors’ duties are see our guide here Directors' Duties) you could be deemed “unfit”. Some of the most common failings in duties to get to...
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Company and individual insolvencies remain low, CVLs are increasing The latest monthly release of insolvency statistics for England and Wales was published on the 16 July 2021. * Overall, the numbers of registered company insolvencies have...
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Becoming a company director gives you a position of authority over the management of your business as well as responsibility for its performance. It is imperative that you understand your duties and responsibilities; general duties as detailed in...
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As R3 launch their Directors’ guide to getting #Backtobusiness, we’ve also been thinking about the importance of reviewing your business and knowing when to seek professional advice. Having worked with financially distressed businesses for...
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