Category: Rise In Insolvency

How to Prepare for A Meeting with An Insolvency Practitioner

If you are planning to enter into an Individual Voluntary Arrangement (IVA), you will need to have a meeting set up with an insolvency practitioner (IP) to discuss your case. The IP will expect you to come prepared with all the information required to set up the arrangement because if there is anything missing or…




Will Business Insolvency Cost Me Anything?

The answer to this is it depends both on the complexities involved, creditors and insolvency practitioners hired to deal with the process. Insolvency should never be seen as an easy option as a result of the many variables that need to be considered first.   Potential fees for a business going insolvent might include the costs…




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…




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 Can You Do If You’re Wrongly Pursued For Debts?

You probably get spam emails every day claiming you owe money but it’s a totally different matter when the claim is genuine and your creditor is claiming you owe them money when this is not the case.   Most often this type of claim is made by an organisation you have not communicated with directly such…




Thousands Of Estate Agents Could Face Insolvency Or Closure

Recent research suggests that estate agents have a fight on their hands if they want to avoid insolvency and closures as a result of factors such as rising levels of competition from online estate agents.   Figures from the year to May 2018 show that 153 estate agents fell into insolvency marking an increase from the…




Rescue Or Liquidation? How To Decide What Is Best For Your Business

If your business gets into financial difficulty then you will only have two options, try to save it or allow it to go into liquidation. So how do you decide which option is the right one?   The route you decide to go down depends a lot on the circumstances surrounding the financial difficulties you find…




UK Businesses Owner Debt Worries On The Rise

As the UK economy enters a period of uncertainty there has been a major increase in the number of business owners reporting they will be unable to pay their debts if there was even a modest rise in interest rates on existing loans.   Combine this with a recent survey of SMEs reporting significantly lower levels…




Rise In Insolvency Risk For West Midlands Businesses

The West Midlands Becomes one of a number of regions in the UK seeing an increase in the risk of insolvency according to recent research from insolvency trade body R3.   While insolvency risk is still on the low side, the latest figures highlight a trend that shows corporate insolvency rates are beginning to increase again…