As the cost of living crisis continues with no sign of it ending in the near future, increasing numbers of businesses are facing company insolvency. Each week in the news, there are headlines of
Defined under Section 216 of the Insolvency Act 1986, a Prohibited Name is a company name that is either identical to, or very similar to that of an insolvent company, suggesting an association with
If your business is insolvent or experiencing financial difficulties, this doesn’t necessarily mean the end. Financial difficulties can be part and parcel of running a business, so if you are
The effects of Brexit and Covid-19 on the UK economy, amongst a range of other factors, mean that many businesses are experiencing financial difficulties, and for a large percentage, insolvency is a
It’s quite common for people to ask what business insolvency really means. The simple explanation is that a business is insolvent when they can no longer afford to pay their debts as they are due,