Construction Insolvency: Early Warning Signs and Preventive Measures for Subcontractors Introduction: The Vulnerable Position of Subcontractors in the UK Construction Industry The UK construction industry continues to face unprecedented challenges, with insolvency rates reaching alarming levels. According to the latest figures from the Insolvency Service, construction firms accounted for 16.3% of all insolvencies in England [...]
Step-by-Step Guide to Completing Form DS01: Dissolving Your UK Company What Is Form DS01? Form DS01 is the official document used to voluntarily strike off a limited company from the Companies House register. It allows directors to dissolve their company when it's no longer needed. Quite often businesses owners will do this themselves or with [...]
Dealing with Business Debt: How to Wind Up Your Own Company: A Guide for Directors and Shareholders on Liquidation Procedures This guide is designed for directors and shareholders who need clear, practical advice on winding up a limited company. It provides step-by-step information about liquidation procedures, including the roles and responsibilities of directors, what to [...]
Shutting Up Shop: What It Means and What to Do If Your Business Is Closing If you’re searching for information on “shutting up shop,” chances are you’re considering closing your business or facing financial difficulties. In the UK, businesses cease trading for various reasons, including financial struggles, market changes, or simply a planned exit. [...]
Hotels and Hospitality Business Liquidation Advice: Navigating Closures Effectively Financial Challenges for Hotels and Hospitality Businesses Impact of the COVID-19 Pandemic The hospitality sector has faced unprecedented difficulties due to the COVID-19 pandemic. Many hotels and hospitality businesses have struggled to stay afloat amidst lockdowns, travel restrictions, and reduced consumer confidence. The brief trading window [...]
"My pub needs to go into liquidation" Pub Liquidation: An Overview Expert Guidance for Pub Proprietors If your pub is facing financial difficulties, seeking professional advice is crucial. A licensed insolvency practitioner can assess your situation and provide tailored guidance. They'll explain your legal obligations to creditors and help you navigate the complex landscape of [...]
Liquidation Advice for Festivals and Live Music Companies: Navigating Financial Challenges in the Events Industry Winding Up Your Music Festival or Live Performance Enterprise Experimental Gatherings and the Government's Research Initiative The government's programme for researching live events has allowed some companies to plan with more confidence. However, not all businesses have been chosen to [...]
Business Bankruptcy: Common Concerns for UK Company Directors – What You Need to Know Facing financial distress as a company director in the UK is stressful. Whether it’s concerns over personal liability, the risk of disqualification, or the potential for personal bankruptcy, understanding your position is crucial. At Anderson Brookes, we provide clear, practical advice [...]
Trading While Insolvent: Risks and Responsibilities for UK Directors - Legal Consequences and Best Practices What Is Trading While Insolvent? Trading while insolvent occurs when a company continues to operate despite being unable to meet its financial obligations. This practice carries significant legal and financial risks for directors. Definition of Insolvency Insolvency refers to a [...]
UK Construction Insolvency and Liquidation: Understanding Risks and Preventing Financial Distress Current Challenges in the UK Construction Industry The UK construction industry is currently experiencing severe financial pressures, evidenced by the latest insolvency and liquidation statistics. According to the Insolvency Service, construction firms accounted for 16.3% of all insolvencies and liquidations in England and Wales [...]