Don’t wait and see before seeking help
We’re at a pivotal point as we start the transition out of lockdown. Now is the time to engage with professional advisers, including restructuring and insolvency practitioners.
Insolvency in an atypical recession
According to Greg Palfrey of Smith & Williamson, we’ll see waves of insolvency this year as sector by sector, businesses feel the pinch.
Growing fatigue among ailing businesses?
While formal insolvency numbers are lower now than they were pre-Covid, the statistics may be masking businesses on the brink and those whose owners will question whether it’s worth carrying on as the year continues.
The painful reality of a CVA
Managing director of Perfection Alloys, Fraser Dick, speaks about how hard decisions and empathy from his insolvency practitioner helped his business successfully weather insolvency.
Hong Kong still waiting for a moratorium mechanism
Despite a tough period for businesses in Hong Kong the introduction of a corporate rescue procedure remains elusive, says Johnson Kong, Managing Director at BDO Hong Kong.
Are zombie companies on the rise?
There are a high proportion of zombie companies in the UK. The COVID-19 pandemic has created the perfect environment to create more.
HMRC: if you need support, get in touch with us
The message from HMRC is clear: where businesses are in distress it will provide support, but there must be ongoing conversations.
These are people we’re dealing with
Out of necessity, insolvency practitioners are focused on compliance and best practice. But their interactions with people who have built businesses are often deeply personal – this is why empathy is vital when advising those involved in a business in distress.
Government support and the day of reckoning for small businesses
Small businesses that have accepted government support in the form of CBILS and Bounce Back Loans may find themselves at a crossroads as they seek a way through distress into recovery.
Timeliness is everything
When restructuring a company in distress, early specialist engagement is vital says Ryan Grant, Partner in BDO and an Insolvency Practitioner.
COVID-19: global recovery
Recovery from the worldwide economic crisis brought about by COVID-19 is being informed by initiatives from around the world.
Evaluating Going Concern
Going concern is the fundamental assumption that an entity will continue to operate in the foreseeable future: a key concern during COVID-19.