In the world of business finance, an Independent Business Review (IBR) is a crucial tool for stakeholders to gain an unbiased assessment of a company's financial health and future prospects. Whether you're a business owner facing an IBR or a...
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When a business fails a director’s duties continue. Directors have several responsibilities and potential liabilities they must fulfil and these cannot be avoided by entering into insolvency or liquidation – even by resigning. Generally,...
Read more...Of the 2,102 registered company insolvencies in February 2024: There were 1,707 CVLs which is 12% higher than in February 2023 217 were compulsory liquidations which is 35% higher than in February 2023 There were 166...
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If you or your client’s business is facing financial distress it can be a stressful and worrying time for all involved. It can also be daunting to be presented with an overload of information and options on what to do next. Perhaps a formal...
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A restructuring plan is a recently introduced court-supervised process that allows financially distressed companies to restructure their liabilities and reach a binding compromise with their creditors and/or shareholders. It must have approval from...
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It’s often the case that January is written off, what with the recovery from the pre-Christmas rush and the subsequent focus on the end of January deadlines for tax returns. But spending some time making sure that you are “business fit” will...
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We’ve looked at how to spot signs of financial distress in your business, as well as your duties as a director. Now, let’s look at what the options are for your business. Restructuring plan With this option, time and speed are...
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Becoming a company director gives you a position of authority over the management of your business as well as responsibility for its performance. It is imperative that you understand your duties and responsibilities; general duties as detailed in...
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As R3 launch their Directors’ guide to getting #Backtobusiness, we’ve also been thinking about the importance of reviewing your business and knowing when to seek professional advice. Having worked with financially distressed businesses for...
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Isobel Brett provides comment for Financial Accountant on bounce back loans
Posted By: Bretts Business Recovery Ltd on 19th March 2024
Isobel Brett was featured in a recent article in Financial Accountant looking at the worrying number of bounce back loans issued to struggling SMEs by the Government, which may never be re-paid or were potentially mis-used. The article considers...
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