With Midas Construction set to appoint Administrators, Scott Bebbington, Senior Manager at PKF Francis Clark highlights how this could affect you or your clients’ business and what can you do to safeguard your position. What the Administration means? Suppliers to…
The latest sector breakdown of corporate insolvencies was released earlier this week, so here is my updated chart of insolvencies by sector for both November 2021 and the total for the year. My three key highlights from the November breakdown:…
Although the level of insolvencies continued to remain low in 2021 due to the Government support and protections made available to businesses, 2021 was still an interesting time for the world of Business Recovery and Insolvency. Here is Senior Manager…
With enforced closures having a detrimental effect on balance sheets for businesses in the food and drink sector and despite the raft of support made available, the sector was still one of the worst affected in terms of insolvencies. Whilst…
One of the many protections for businesses during the pandemic has been a ban on winding up action by creditors unless it can be shown that the inability to pay is not Covid related. The government is looking to return…
The Bounce Back Loan Scheme turned one year old on 4 May 2021. This means the initial 12-month repayment-free period has now come to an end, or will be ending imminently, and businesses will have to start making repayments on…
Scott Bebbington considers today's Company Insolvency Statistics for January to March 2021 and warns that now is the time for struggling businesses to take action. After corporate insolvencies fell to their lowest level since 1989 last year, they continue to…
Landlords often get a bad press, being portrayed as greedy proprietary creditors, all too ready to seize back their property when the tenant is in financial difficulty. Under the 2020 Coronavirus Act, specific provisions were made to prevent landlords from…
Administrators from PKF Francis Clark have reported that all creditors of a Devon-based rehabilitation charity, including former employees, have been paid in full following the successful sale of two properties. Broadreach House in Plymouth provided residential, rehabilitation and community based…
In just a few weeks, the Corporate Insolvency and Governance Act was rushed through Parliament (achieving royal assent on 25 June 2020), introducing a number of protections and procedures aimed very squarely at facilitating restructuring and saving businesses. Among these…
Merry Christmas! Our offices will be closed from 1pm on Christmas Eve, reopening on Tuesday 4 January.