Insolvency

Insight / Pandemic support suppresses insolvency rates

Overall numbers of company and individual insolvencies remained low in August 2020, largely as a result of the government measures put in place in response to the coronavirus pandemic, but look set to rise sharply as support schemes end

Insight / Call to extend Covid-19 insolvency protection

The government should extend emergency Covid-19 insolvency measures or risk seeing a raft of company collapses and job losses later this year, the Institute of Directors (IoD) has warned

Insight / Grants for businesses affected by local lockdowns

As the government tightens Covid-19 restrictions in the face of a spike in coronavirus cases, the Treasury has said businesses affected by local lockdowns will be eligible for grants to cover some of their loss of earnings

Tax / Preferential creditor change creates headache for rescue remedies

As HMRC regains its position at the front of the creditor queue, Ashford’s Katie Farmer and Amy Gallimore explain the impact on corporate insolvencies, including CVA challenges and cash flow crises

Insight / PwC fixes pre-pack for vehicle accident repair specialist

PwC has arranged a pre-pack sale of Nationwide Accident Repair Services, saving over 2,000 roles at the garage specialist, but with 540 jobs lost following the company’s collapse into administration after Covid-19 hit trading

Insight / HMRC preferential creditor: top tips to avoid personal guarantee headache

With HMRC due to become a preferential creditor under insolvency procedures, Purbeck Insurance’s Todd Davison looks at what it means for business owners with personal guarantees

Insight / Covid-19: low income self-isolating payments

The government is trialling the introduction of a new payment for people on low incomes in areas with high rates of Covid-19, who need to self-isolate and are unable to work from home

Insight / Eating out: what’s on the menu for struggling restaurants?

As Pizza Express’ CVA sees the closure of 73 outlets, with 1,110 job losses across the UK, BLM’s insolvency law specialist Stuart Evans looks at the options available for high street restaurant chains

Insight / PwC organises pre-pack deal for Travelex

PwC has been called in as administrators to the Travelex group and has completed a pre-pack deal involving a complex restructuring which will reduce the debt burden at the foreign exchange operator, but will see over 1,300 UK-based employees lose their jobs

Insight / KPMG serves up administration at Byron

Will Wright and Steve Absolom, partners from KPMG’s restructuring practice, have been appointed as joint administrators to Byron Hamburgers Ltd, and put a pre-pack deal on the table as challenging trading conditions saw the casual dining chain shed more than half its jobs 

Insight / New buyer is theme park’s ticket to ride out administration

PwC has found a European buyer for a third-generation family-run theme park in Tamworth, which went into administration after experiencing cashflow difficulties, putting 600 jobs at risk

Insight / DW Sports administration exercises BDO

BDO business restructuring partners, Graham Newton and Ryan Grant, have been appointed joint administrators of fitness chain Dave Whelan Sports Ltd (DW Sports), which has collapsed putting 1,700 jobs at risk

Insight / 'Dramatic' plunge in corporate insolvencies

The government’s coronavirus support measures have had a dramatic impact on corporate insolvencies, which have fallen to their lowest level for four years, according to research by KPMG

Insight / KPMG serves up pre-pack to French dining chain

Will Wright and Steve Absolom, partners from KPMG UK’s restructuring practice, have been appointed joint administrators of Le Bistrot Pierre Ltd, and have arranged a pre-pack of the restaurant chain, saving over 600 jobs

Insight / Package holiday specialist nosedives into administration

David Baxendale and Steven Sherry, partners at PwC, have been appointed as joint administrators of Fleetway Travel Ltd and Fleetway Aviation Ltd, package holiday specialists which have collapsed as a result of the coronavirus crisis with the loss of some 60 jobs
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