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Directors of insolvent companies have a few options at their disposal for dealing with debt. One method is voluntary liquidation, which allows directors an efficient method of winding up their company and paying back outstanding creditors. However, liquidation marks an end for the company in question, resulting in it being removed from the Companies House…

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Closing down a company is something most directors will need to consider at one point or another. This could be for reasons of financial distress, such as in cases of insolvency, but this is not always the reason for closing. Oftentimes, directors will consider closing their company to pursue other ventures, or to retire comfortably.…

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Insolvency is a problem faced by many companies. This isn’t always due to mismanagement; in fact, this is often not the case. Changes in a market, or even a local economy, plus the reluctance of directors to wind up their companies when they face financial difficulty, is a common scenario. However, directors in such a…

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If you’ve taken the leap to create a small business out of your passion or bring a great idea to life, you might wonder whether taking a business loan is a good decision. On the one hand, the cash injection could be the spark to make your company a success, allowing you to purchase vital…

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17 March 2023

If directors of an insolvent company do not act swiftly to remedy the situation, or maintain clear communication with creditors, then they are likely to be served with a winding-up petition. A winding-up petition often precedes a compulsory liquidation, meaning the future of a company on the receiving end is at risk. Furthermore, once this…

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