If your business finds itself struggling financially and wants to enter into a formal insolvency procedure, creditor's voluntary liquidation is one of the most common options. This is because doing so comes with speed, flexibility and considerably low costs. That is not to say, though, that the other procedures available to you do not also [...]
The coronavirus pandemic caused many businesses to close temporarily and many employees were placed on the government’s furlough scheme. The period the business is closed is known as a lay-off and during this time, employees are entitled to receive their normal pay throughout the lay-off. However, some employee contracts have a clause that allows an [...]
There are a number of situations whereby a company can be liquidated. The majority of company liquidations are either voluntary or compulsory. However, the circumstances for entering a company liquidation process are different for each company. When to enter company liquidation? There are three types of company liquidation: Compulsory liquidation – the company is unable [...]
The number of businesses that can say 2020 has been a good year may be less than previous years. Due to COVID-19, just about every business across the UK has suffered financially and this trend doesn’t look like it’s slowing up any time soon. Insolvency practitioners have never been so busy. Sadly, companies throughout the [...]
Despite the impact of COVID-19 in 2020, if you look at the monthly UK insolvency statistics, the number of companies that filed for bankruptcy or went into liquidation, administration or CVAs, has decreased year on year. For example, in July 2020 in England and Wales, there were a total of 955 company insolvencies which represented [...]
You have a great idea for a business and you register a company but it doesn’t quite go to plan. You want to close the business a short while later. There can be several reasons why business owners want to close a private limited company which can include the business not making the money expected, [...]
I’m sure many of us have been in the situation of having a company that owes us money but being unable to contact them. They don’t answer emails, telephone calls are ignored, rumours fly around about the business struggling. In these circumstances, questions arise. Are they still trading? Has the business closed? Are they in [...]
Seeing the sign of a closing down sale or liquidation sale is not an uncommon sight in most major city shopping centres in the UK. In 2020, it is sadly a very familiar sight as many retail shops and businesses are being forced to close due to the impact of COVID-19. With many people continuing [...]
If your company is experiencing financial distress or going through tough times, then you may be considering getting some expert advice to help you navigate these choppy waters. This would ideally be in the form of an experienced insolvency practitioner. However, unless you have dealt with an insolvency practitioner before, you may be unsure what [...]
Please ensure you read the full article prior to contacting Leading. Please note that due to the Company’s position it is not possible for you to obtain a refund. Online personal training course provider, FitLearn Ltd (“the Company”), has ceased trading and will be entering Creditors Voluntary Liquidation. Since contacting Leading, the director’s primary concern […]
