Posted By: Bretts Business Recovery Ltd on 26th April 2024
The insolvency statistics released for March 2024 show that of the 1785 registered company insolvencies: 1,436 were CVLs which is 29% lower than in March 2023 228 were compulsory liquidations which is 25% lower than March 2023 There...
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Posted By: Bretts Business Recovery Ltd on 26th April 2024
The Insolvency Service has taken robust action against company directors who misused COVID-19 financial support schemes, banning 831 directors in the 2023-24 financial year. This represents an increase of over 80% from the previous year. The...
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Posted By: Bretts Business Recovery Ltd on 19th March 2024
Of the 2,102 registered company insolvencies in February 2024: There were 1,707 CVLs which is 12% higher than in February 2023 217 were compulsory liquidations which is 35% higher than in February 2023 There were 166...
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Posted By: Bretts Business Recovery Ltd on 19th March 2024
A restructuring plan is a recently introduced court-supervised process that allows financially distressed companies to restructure their liabilities and reach a binding compromise with their creditors and/or shareholders. It must have approval from...
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Posted By: Bretts Business Recovery Ltd on 19th March 2024
A former director has been banned from being a company director for 14 years after the Insolvency Service found he had taken £57 million from investors in an unlawful care home investment scheme. Robin Forster was a director at Qualia Care...
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Posted By: Bretts Business Recovery Ltd on 17th August 2023
The number of registered company insolvencies in July 2023 was 1,727, 6% lower than in the same month in the previous year (1,831 in July 2022). This was higher than levels seen while the Government support measures were in place in response to the...
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Posted By: Bretts Business Recovery Ltd on 27th July 2023
The number of registered company insolvencies in June 2023 was 2,163, 27% higher than in the same month in the previous year (1,698 in June 2022). There were 260 compulsory liquidations in June 2023, 77% higher than in June 2022. Numbers of...
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Posted By: Bretts Business Recovery Ltd on 18th June 2023
The number of registered company insolvencies in May 2023 was 2552, 40% higher than in the same month in the previous year and a leap of 51% on April's figures. The number of company insolvencies in May 2023 was 40% higher than the number in...
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Posted By: Bretts Business Recovery Ltd on 25th May 2023
The number of registered company insolvencies in April 2023 was 1,685 15% lower than the number in April 2022 The decrease in company insolvencies compared to the same month last year was driven by a decrease in the number of CVLs,...
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Isobel Brett provides comment for Financial Accountant on bounce back loans
Posted By: Bretts Business Recovery Ltd on 19th March 2024
Isobel Brett was featured in a recent article in Financial Accountant looking at the worrying number of bounce back loans issued to struggling SMEs by the Government, which may never be re-paid or were potentially mis-used. The article considers...
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