The last couple of years have been extremely difficult for businesses of all sizes, particularly for some industries, such as retail, travel, and hospitality. The coronavirus pandemic has hit companies hard and with support from the government ceasing in the last few months, many are struggling to stay in business. Negotiating a Creditors’ Voluntary Arrangement [...]
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 [...]
There are a variety of reasons why a director may want to close a solvent limited company. For example, retirement might initiate closure, or a merger with another company, a major company restructure or if the company is dormant. Whatever the reason, if the company is solvent, i.e. has sufficient funds to pay all of [...]
