Corporate Insolvency

Corporate insolvencies have risen sharply in England and Wales towards the end of 2022 and throughout 2023. The rise can also be attributed to the support provided by the government to businesses, as well as legislation put in place by the government to avoid Companies going out of business during Covid being withdrawn.

Companies are now also facing huge challenges due to soaring business costs.

These companies are now struggling to service debts with the increase in borrowing, resulting in more Winding Up Petitions being issued and more companies being wound up.

If your Company is facing financial difficulties, the sooner you seek advice the more likely it’s that the Company can be rescued.

Directors must act in the best interest of the Company and may face personal consequences if the Company continues to trade when the directors ought to have known that the Company is unable to meet its liabilities.

Rice-Jones & Smiths may be able to provide you with advice and assistance to save your Company.

Please contact Michael Ellis on 0207 269 9972.