The latest statistics from the Insolvency Service have been released for the period between 1 January and 31 March 2022. It’s no surprise really to see that the number of registered company insolvencies has increased slightly on the previous quarter, and significantly on comparison to the same period last year. Let’s take a look at the numbers in a bit more detail. Comparing Q4 2021 to Q1 2022, there’s been a 6% increase...
If you’re an employee of a company which is insolvent, you’ll understandably have lots of questions. Will I get paid? When will I get paid? Is there any possibility of the company being saved? It’s an uncertain time for all involved. As an employee, you’ve certain rights under the law, even when the company you work for is insolvent. You also have rights protecting your contract should the business be sold or transferred...
Insolvencies are at a record low at a time when some industries have had their worst year in history. Companies have had to increase their debt and struggle for a return to pre-Covid turnover before being able to even think about repaying those debts. A storm might just be brewing. The Insolvency Service statistics in March 2021, comparing company insolvencies registered in March 2020 and March 2019 showed: Compulsory liquidations...
