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Insolvency statistics released for September 2021

Posted By: Bretts Business Recovery Ltd on 18th October 2021

The number of registered company insolvencies in September 2021 was 1,446 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 15 October 2021....

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Pay Less Notices (PLNs) and subcontractors

Posted By: Bretts Business Recovery Ltd on 13th October 2021

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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Motor parts suppliers banned after illegitimately securing £176,000

Posted By: Bretts Business Recovery Ltd on 24th September 2021

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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Insolvency statistics released for August 2021

Posted By: Bretts Business Recovery Ltd on 17th September 2021

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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Insolvency statistics released for July 2021

Posted By: Bretts Business Recovery Ltd on 24th August 2021

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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Banned director receives community order and ordered to complete 120 hours unpaid work.

Posted By: Bretts Business Recovery Ltd on 27th July 2021

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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What options are available for your business?

Posted By: Bretts Business Recovery Ltd on 27th July 2021

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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Director Disqualifications – the why, how and what next…

Posted By: Bretts Business Recovery Ltd on 21st July 2021

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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Insolvency statistics released for June 2021

Posted By: Bretts Business Recovery Ltd on 19th July 2021

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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Directors’ Duties – what you need to know

Posted By: Bretts Business Recovery Ltd on 13th July 2021

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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