Category: Bankruptcy

If My Company Goes Bust Will It Harm My Personal Credit Rating?

If your business faces closure this year you will no doubt have plenty of things on your mind to worry about without adding personal worries to the equation. One of the major concerns for many directors is the potential impact on their own financial future and their credit rating in particular. To ease those worries,…




Can A Dissolved Company Be Restored?

If your business is facing insolvency this year then you may be thinking about what happens after. Will everything you worked for be gone for ever?   Sometimes a business will reach its natural end with no prospect of a rescue or rebirth while it is possible for some businesses to come back from the dead….




What is Debt Management?

Your business may require debt management if it is no longer generating enough income to cover its outstanding liabilities under the original agreements made with its creditors. The process is similar to when individuals ask for help to pay their debts rather than face insolvency and potential bankruptcy.   While any company requiring debt management services…




More Construction Insolvencies As Carillion Fallout Continues

Anyone hoping for better news in the construction industry will have to wait longer as data shows hundreds of construction firms entered insolvency in the first quarter of the year.   The collapse of Carillion may have grabbed all the headlines due to its high profile and size, but the ripple effect is already looking a…




Is Your Business Set Up To Fail?

This may sound like an odd question, we can all talk about how we work hard to succeed at our businesses, put in the hours and so on but often this effort can be misplaced and not in the long term interests of the business.   Weaknesses in any of the key areas of what makes…




Guide to Exit Strategies

Every business owner(s) or shareholders should have an exit strategy because there will inevitably come a time when the business itself reaches the end of its life or the owners wish to leave the business and move on. But what exactly is an exit strategy in practice? Here’s a brief guide to explain…  The confusing…




Why You Can’t Always Rely On Your Accountants View of Business Solvency

Recent events have shown that even some of the country’s largest accountancy firms can fail to spot the imminent collapse of a business.   Take for instance the case of KPMG signing off the accounts of construction firm Carillion, only to find that just a few short months later the company announced a profit warning. This…




Is it the Beginning of the End for Homebase

Retailers Homebase have just become the latest major store chain to face the threat of extinction only to be saved from administration by a company voluntary arrangement (CVA) which has for now been agreed with creditors.   Given the fate of many large household retail chains in the past decade it would be easy to assume…




When Insolvency Has A Bigger Sting In The Tail

The story of one unfortunate former restaurant owner serves as a warning that insolvency can leave business owners open to further scrutiny of their business.   The recent case involving Azam Ail, former director of the Indian Restaurant Pabna Restaurant Ltd (Pabna) ended with 9-year ban from the promotion, formation or management of a company unless…




What Are Your Options If You Can’t Pay HMRC?

The saying goes there are 2 things certain in this life, death and taxes. This ignores another certainty, unlike other creditors, HMRC will continue to pursue matters to their conclusion. This can send many business owners who owe tax into a cold sweat but it doesn’t have to spell the end of your business.   While…