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Insolvency: “The warning signs”
There are a number of warning signs that a company is in financial distress and action is required. Insolvency isn’t always avoidable but the chances of doing so are always improved if action is taken early and rapidly to give the company the greatest opportunity of trading its way out of difficulty. The warning signs can be singular but usually accumulate in a financially poisonous cocktail and it is important that directors and company accountants are prepared to recognise them. [...]
What are my rights as an employee if my employer is insolvent?
If your employer is insolvent and enters Liquidation, Administration or a Company Voluntary Arrangement (CVA), it will probably have an impact on your employment status. Your first concerns are likely to be around whether you still have a job, whether you will still be paid and how to make sure your rights are protected. The first thing to have in mind is that all employees have special rights. If your employer is unable to pay you because they have become [...]
British Steel’s Decline
If you like things Retro it’s difficult to see what else to add to the mix in the UK Economy at the moment other than double-digit interest rates and no membership of the European Union if you fancy a taste of the 1970s. Not since the time of the Conservative government of the mid-1970s have we had such a heady mix of political turmoil, party-political in-fighting, European dis-harmony and economic disruption. The sad news today of British Steel’s decline into [...]