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Exit Strategies Explained

A business exit strategy covers the plan for the owner of the company to either sell or reduce their share of ownership, either to investors or another business. Exit strategies can be implemented for a number of reasons, both positive and negative, including retirement or damage limitation if the company is in trouble financially. It may also be used by investors in order to plan for a cashing-out on an investment. 

Exit Strategies Explained2021-06-28T16:01:04+00:00

New powers to tackle unfit directors of dissolved companies announced

Under a new bill “Ratings ( Coronavirus ) and Directors Disqualification (Dissolved Companies ) Bill”,  the Insolvency Service will have retrospective powers to investigate Directors who have abused the Government support Schemes.

New powers to tackle unfit directors of dissolved companies announced2021-05-19T09:50:20+00:00

Government announces extension of insolvency measures

Government announces extension of insolvency measures The Government has extended the measures put in place by the Corporate Insolvency and Governance Act in order to protect businesses from insolvency, giving them a much-needed breathing space during the pandemic. Many changes to the Corporate Insolvency and Governance Act were due to expire at the end of September. However, as of 24th September, the measures have been extended to the end of December 2020 and in some cases to March 2021. Summary of temporary measures: Companies with any obligations to hold AGMs will continue to have the flexibility to hold these meetings [...]

Government announces extension of insolvency measures2021-03-22T14:12:02+00:00

How does the Coronavirus Job Support Scheme work?

How does the Coronavirus Job Support Scheme work? Yesterday, Chancellor Rishi Sunak announced a new scheme to increase the wages of workers who have had to cut their hours due to the COVID-19 pandemic. The Job Support Scheme will help to protect viable jobs in businesses that are likely to face a lower demand as we head into the winter months as opposed to all job roles which were supported as part of the initial furlough scheme. The new scheme will start in November replacing the existing furlough scheme which ends on October 31 2020. How will the new Job [...]

How does the Coronavirus Job Support Scheme work?2021-03-22T14:14:54+00:00

The spectre of the return of HMRC preferential status

The spectre of the return of HMRC preferential status We have commented in several blogs and to clients directly and can confirm that the enactment of the Finance Bill on 22nd July 2020 paves the way for the reintroduction of preferential status for the vast majority of HMRC liabilities in insolvencies. Background As a potted history lesson, HMRC held preferential status up to the implementation of the Enterprise Act in 2003. This unexpectedly revoked this status in favour of a policy aimed at business enterprise and with the objective to return enhanced distributions to ordinary trade creditors in insolvencies. In [...]

The spectre of the return of HMRC preferential status2021-03-22T14:22:31+00:00

Enforcing Reservation of Title – Cold Comfort or Cash?

In the contract between the supplier and the recipient of goods, there is a specific condition that title or ownership of the goods doesn’t pass to the recipient on delivery or collection (which is the normal situation); it happens only when the goods have been paid for in full.

Enforcing Reservation of Title – Cold Comfort or Cash?2021-03-22T16:39:23+00:00

We are here to help retailers during these challenging times for retail

Everyone recognises that these are difficult and challenging times for the retail market, but please understand that by communicating with suppliers and indeed customers and having regular meetings with them, means that difficult situations can, but not always, be averted.

We are here to help retailers during these challenging times for retail2021-03-22T16:46:40+00:00