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Although Bounce Back Loans were incredibly useful for many companies during the height of the Coronavirus pandemic, they were not a financial cure-all. Some companies were able to use Bounce Back Loans to keep afloat, while for others, they simply weren’t enough. If your company falls into the latter category, and is struggling to repay…

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To aid companies during the height of the Coronavirus pandemic, the UK government introduced Bounce Back Loans to supplement their finances. The loan could be used for a variety of reasons, as long as it was for the benefit of the company – as opposed to being used for a director’s personal expenditure. However, a…

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Bounce Back loans were a much-needed lifeline for many businesses during the peak of the Coronavirus pandemic. Small businesses especially benefited, as did brick-and-mortar shops on the High Street that saw foot traffic diminish considerably. For many of these businesses, the Bounce Back Loan Scheme (BBLS) was necessary to get them through the lowest points.…

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Being served a winding-up petition is a real possibility for insolvent companies. This petition is the typical route to initiating a compulsory liquidation. A process that can be forced upon a company by any creditor owed at least £750. This will bring the issue of repayment to the courts, with a view to determining whether…

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When a company becomes unprofitable, as is the future of many to some extent, a strike-off can be a good idea. By doing so, directors can dispose of their company’s assets and close it down. This way, directors can benefit from the retained profits of their companies, before prolonged unprofitability makes a financial failure out…

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