Business Restructuring: Practical Options When Your Company Is Under Financial Pressure
Cash flow is tight. Suppliers are chasing payment. HMRC deadlines keep slipping. The figures do not quite add up, even though you are working harder than ever. It is natural to feel anxious, defensive or even ashamed when this happens. It is also more common than you might think. Restructuring is about taking control again. […]
Receivership Explained: Process, Timeline and Outcomes
When a lender starts talking about enforcing its security, it can feel as if events are running away from you. Terms like “receivership” appear in letters and legal documents, but no one has taken the time to explain what they actually mean for you, your business and the people who rely on it. Receivership does […]
Business Overdraft in Liquidation: What Happens in a CVL?
When an overdraft was once a safety net and is now the only way you can cover wages, rent or suppliers, it stops feeling like a tool and starts feeling like a trap. Add in messages from the bank, pressure from HMRC and calls from worried creditors, and it can be hard to see a […]
Active Proposal to Strike Off: Can You Stop It and Save the Company?
You log in to Companies House and notice a new status next to your company name: “active proposal to strike off”. It is short, blunt and worrying. You may be wondering if this means you are about to lose the company, whether you will be left with unpaid debts, and what it says to your […]
Creditors’ Voluntary Liquidation (CVL): The Complete Guide for Company Directors
If your company can no longer pay its debts, a Creditors’ Voluntary Liquidation (CVL) can be the most straightforward and responsible way to bring things to a close. A CVL allows directors of an insolvent limited company to take control of the closure process, appoint a licensed insolvency practitioner, deal properly with creditors, and bring […]
Business Energy Debt and Disconnection: Options for Company Directors
If your business is falling behind on gas or electricity bills, it can feel as if everything is closing in at once. The figures may already be higher than you have ever seen, and the thought of disconnection on top of rent, rates and tax arrears is enough to keep anyone awake at night. Business […]
Personal Guarantees After Liquidation: A Practical Guide for Company Directors
If your company is heading towards liquidation and you have signed personal guarantees, it is very normal to feel anxious. You might be worrying about your home, your savings and what this could mean for your family. Personal guarantees do not disappear when a company closes. They can become enforceable against you personally, but that […]
Business Credit Card Debt When Closing a Company: What Directors Should Expect
When cash flow is tight, business credit card debt can build up quickly. Recent data from the British Business Bank shows that use of external finance by small businesses rose from 41% to 50% in 2023, with credit card use rising from 12% to 20% as more firms turned to cards and overdrafts to manage […]
Who Gets Paid First in Liquidation? A UK Director’s Guide
When cash is tight and pressure is building, one of the first questions that usually comes up is simple: if the company closes, who actually gets paid, and who loses out? The good news is that there is a clear legal order of payment in liquidation. It is not about who shouts loudest or who […]
Can I Close My Company If It Owes Money To An Insurance Provider?
Falling behind on insurance payments can feel frightening. You know cover is important, yet cashflow is tight, and the company may already be juggling other bills. It is natural to wonder whether you can close the business when it still has insurance debt, and what that might mean for you personally. The good news is […]