Vale & West Chartered Accountants Blog

Category Archives:Insolvency

Company insolvencies: over 8,700 chain stores have closed

Recent research shows that in 2021, over 8,700 chain stores have closed due to the major shift in online shopping – partly caused by the coronavirus pandemic. Read More

Winding up petition debt threshold to be increased in wake of pandemic

The debt threshold for a winding up petition will be temporarily increased in wake of the coronavirus pandemic, it has been announced. Read More

Corporate Insolvency and Governance Act 2020 – the changes in 2021

Some temporary relief measures introduced under the Corporate Insolvency and Governance Act 2020 (CIGA) are extending, the Government announced on 16 June 2021.  Read More

Draft legislation implements requirement for “mandatory independent scrutiny” of pre-pack administration sales

New legislation will require independent scrutiny of pre-pack sales where connected parties are involved, it has been announced. Read More

Insolvency: 900,000 UK businesses are ‘at risk’ of closure

One in seven UK businesses are ‘at risk’ of closure in the first half of 2021 with many coronavirus business support measures due to close in March and April, according to the latest research. Read More

Government has instructed fraudulent coronavirus loan applications to be reported

To get ahead of the anticipated rise in company collapses next year, the Insolvency Service has instructed insolvency practitioners to report all fraudulent coronavirus loan applications to them.  Read More

Empty high street shops reach highest level for more than six years

According to the new figures, the number of empty high street shops has risen to the highest level for more than six years following a wave of store closures as a result of the pandemic. Read More

New Corporate Insolvency and Governance Bill to extend accounting deadlines

The new Corporate Insolvency and Governance Bill will help maximise your business’ chance of survival throughout the coronavirus pandemic, it has been suggested. Read More

Almost a fifth of businesses fell into their overdraft in past year

According to the latest industry research, almost one in five small businesses fell into their overdrafts in the last year in a bid to manage their cash flow. Read More

Company insolvencies hit six-year high

Company insolvencies increased to their highest annual level for over six years, the latest statistics have shown. Read More

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