Insolvency Statistics – Quarter 1 2014
Q1 Sees Rise in Compulsory Liquidations
Richard Simms comments:
“If we focus on the statistics change between Q4 of 2013 and Q1 of 2014 there are significant changes to note, especially with the rise in Compulsory Liquidations. We have personally seen a number of new enquiries lately explaining they have received winding-up petitions from HMRC or other large creditors.
This activity tells us that the larger creditors are no longer ignoring unpaid invoices, but are willing to take measures to ensure they are paid or that the company is reprimanded for not paying.
A more positive increase is shown in the figures for Company Voluntary Arrangements with a rise of 15.4%. This business rescue process is helping turn round struggling companies who have an underlying profitable business but is being held back by historic debt.
If you feel your client may be dealing with insolvency worries then contact us for free advice and guidance on how they can deal with their insolvency worries. Telephone or email email@example.com and speak to one of our Insolvency Practitioners today.
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