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Insolvency Statistics & Information – Q2 2013

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Our Managing Director Richard Simms comments;

Looking at these quarter 2 figures it highlights that insolvent companies are seeking company turnaround procedures rather than resorting to full closure liquidation. This is a positive step for the UK’s SMEs in their fight to survive the hard economic times which they have been through.

The figures also highlight a high rise in Creditors’ Voluntary Liquidations. This process is not specifically used for full closure of an insolvent company. It can be used by directors to help restart their business by allowing the directors to purchase the assets and goodwill of the insolvent company in order to start afresh. If this process sounds like a service you would like to know more about then please visit our web page for more information:
Start Afresh

Here at FA Simms & Partners we also have the statistics for the solvent liquidation process; Members’ Voluntary Liquidation.

  • April 2011- March 2012 3721 companies entered an MVL
  • April 2012-March 2013 4960 companies entered an MVL

These figures show a 25% rise in the solvent liquidation since the legislation was introduced in March 2012. We provide the Members’ Voluntary Liquidation service here at FA Simms & Partners with fees starting from £2,500 +vat & disbursements.

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Insolvency Figures Q2 2013

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