Being unable to pay employees is one of the clearest signs that a company is experiencing serious financial pressure. Payroll is usually treated as a priority, so when the money is no longer available to meet it, the problem may extend beyond a...
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A Glasgow company director has been disqualified for eight years after his business imported raw tobacco without the required HMRC approval. Fazle Masum, director of Unique Enterprise Ltd, was sanctioned after Border Force intercepted a shipment...
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The insolvency statistics released for May show that of the 1,868 registered company insolvencies: There were 285 compulsory liquidations 1,423 creditors’ voluntary liquidations (CVLs) 135 administrations 25 company voluntary...
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When a company is under financial pressure, administration and liquidation are often spoken about as though they are the same thing. They are not. Both are formal insolvency procedures, involve a licensed insolvency practitioner, and may be used...
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The nine-year director disqualification accepted by Lex Greensill is another significant development in the long-running fallout from the collapse of Greensill Group. While the case is high profile, the underlying issue is a familiar one in...
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The insolvency statistics released for April show that of the 2,085 registered company insolvencies: There were 371 compulsory liquidations 1,510 creditors’ voluntary liquidations (CVLs) 183 administrations 20 company voluntary...
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When a business starts facing financial pressure, directors are often forced to make difficult decisions quickly. Cash flow becomes tighter, creditor pressure increases, HMRC arrears begin to build, and the focus naturally shifts to keeping the...
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A North Yorkshire director has been banned from acting as a company director for four years after failing to properly oversee two companies linked to the controversial Atherton corporate rescue scheme. Suzanne Harley-Davies was a director of...
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Written by Tracey Westell FCICM, Company Director of Pecunia Credit management should never be viewed as an afterthought. It is, and should always remain, a priority within every business. At its simplest, it ensures that revenue is converted...
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The insolvency statistics released for March show that of the 2,022 registered company insolvencies: There were 299 compulsory liquidations 1,468 creditors’ voluntary liquidations (CVLs) 235 administrations 20 company voluntary...
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