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At the end of last month, retail centre giant Intu announced that they had gone into administration. The news followed an earlier statement from the firm that it had failed to reach a financial restructuring agreement during talks with lenders. Intu, which has 17 shopping centres in the UK including the Trafford Centre, had been…

The Corporate Insolvency and Governance Act 2020 has now come into force, having received Royal Assent on 26 June 2020.  What does this mean? This Act introduces a new option for any business that is experiencing cashflow problems due to the COVID-19 crisis. It is designed to give a viable business some breathing space to…

The coronavirus pandemic has put a huge strain on businesses and the UK economy as a whole. With many businesses forced to temporarily close due to lockdown and social distancing measures, and many struggling due to the economic climate, the government introduced the furlough scheme to help companies pay their employees and to ensure that…

What is an MVL? If you’re looking to close down your solvent company then one way to do it is through a process called a Members’ Voluntary Liquidation (MVL).  An MVL is an HMRC-approved way of liquidating a company which does not have any debts and is no longer needed. It is generally used when…

According to the Construction Products Association, overall construction output is expected to fall by 25% throughout 2020. The expectation is that the industry will recover strongly in 2021, however it’s still expected to end up 6% lower than usual due to the effects of the coronavirus pandemic. How will specific construction sub sectors fare? As…