Claims for financial support may be deemed fraudulent if the company was already in trouble when making claims and then later enters into an insolvency process. Insolvency practitioners (IPs) have been advised to remain alert to potentially...
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A biochemical firm manufacturing eco-friendly cleaning products with 14 staff has been saved with a pre-packaged administration deal managed by Bretts Business Recovery. The firm was incorporated in 1996 and was run by a sole Director and...
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Free school places. Pre-schools are bracing themselves for the government’s plans to increase free childcare places from 15hrs per week to 30hrs a week. While this seems like a great initiative to help parents back into work, are they creating...
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In conjunction with HM Treasury, the Insolvency Service has imposed a new fee structure for bankruptcies and compulsory liquidations which came into force on 21 July 2016. The objective behind the new fee structure is for the Insolvency Service to...
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The Centre for Retail Research has analysed the main retail failures in the period since the recession. There are 24, with 11,056 stores affected and 127,134 employees. They range from Blacks Leisure in 2008 to Brantano in 2016. Woolworths was the...
Read more...If rent falls due during an administration it qualifies as an administration expense which must be paid in full before the creditors’ claims are dealt with. This expense may be avoided if the Company files for Administration immediately after...
Read more...In many cases Administration leads to the sale of the company’s assets on a going concern basis. The sale of the company’s assets may be agreed before the company goes into Administration and completed immediately after the commencement of the...
Read more...Administrations drop to lowest level since 2005 You may be surprised to learn that the number of companies entering administration in the first quarter of 2013 was at its lowest level since 2005. High profile retail casualties including HMV,...
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