What Is Limited Company Insolvency?


Understanding limited company insolvency If your business is in financial trouble or heading towards it, seek advice from a licensed insolvency practitioner right away. Get free, private advice to explore all available options for your company.   What is company insolvency? Insolvency happens when a company can’t pay its debts or bills on time and […]

Loss-making business? Free help and advice


Common warning signs that your company is losing income If your business is losing money, watch out for signs common to all unprofitable companies. These include ineffective budgeting, insufficient marketing, and mounting business debts.  Spotting these signals early allows you to implement a recovery strategy to boost earnings and avoid your company facing insolvency.   […]

How can a bank appoint an Insolvency Practitioner?


When faced with a struggling borrower, banks wield significant influence through the appointment of insolvency practitioners. By strategically selecting these practitioners, banks not only protect their financial interests but also contribute to the orderly resolution of insolvency proceedings.  This process involves careful consideration of the practitioner’s expertise, track record, and alignment with the bank’s objectives. […]

How to find an insolvency practitioner?


When financial challenges arise, having a knowledgeable and trustworthy insolvency practitioner by your side can make all the difference. By offering practical tips on conducting research, asking the right questions, and assessing compatibility, we empower you to make a confident choice.  This article guides you through the process of finding the ideal professional to support […]

What is an insolvency practitioner?


When businesses or individuals face insolvency, an insolvency practitioner steps in to overcome the complex terrain of financial distress. Discover the vital role these professionals play in administering insolvency procedures and providing expert guidance to stakeholders.  Who is an Insolvency Practitioner? An Insolvency Practitioner (IP) is a licensed professional who specialises in dealing with individuals […]

How to test whether your company is solvent – the balance sheet test


What is Balance Sheet Insolvency? A complete guide for company directors  Suppose your company seems to be nearing insolvency. In that case, it’s crucial not only to focus on cash flow but also to scrutinise the numbers on your balance sheet for a clear understanding of your situation. While negative cash flow and delays in […]

What is a Relevant Insolvency Proceeding?


What type of insolvency procedures are deemed Relevant Insolvency Proceedings? An insolvency proceeding is a formal process overseen by an insolvency practitioner (IP) aimed at either rescuing a business or winding it down most fairly and efficiently achievable. A ‘relevant’ insolvency proceeding aims to enable a recovery, allowing the business to continue operating as a […]

When is the right time to tell staff your company is insolvent?


When to tell staff your company is insolvent? If your company is on the path to insolvency, one of your primary concerns may revolve around the implications for your employees. If your company’s financial difficulties persist, you might need to contemplate the possibility of permanently closing your company, leaving your staff without employment. Delivering this […]

Financial distress differences between sectors


Which UK industry sectors are experiencing the most insolvency appointments? In 2015, according to data from the Insolvency Service, the construction sector faced the most insolvencies in England and Wales. Wholesale and retail trade followed closely as the second-highest. The numbers cover various forms of insolvency, such as compulsory liquidations, Creditors’ Voluntary Liquidations, administrations, receiverships, […]

A guide to managing business debt


What can you do if your company is in debt? Debt isn’t necessarily harmful for a business. When used wisely, it can assist a company in stabilising its cash flow, investing in machinery, stock, and assets, and speeding up its long-term growth or expansion goals. When debt becomes challenging to handle, issues can swiftly accumulate […]