More than 50 British retailers have called on the government to fix the ‘broken’ business rates system. The group, which includes high street stalwarts like Marks and Spencer, Sainsburys and Asda, sent a letter to chancellor Sajid Javid urging him…
Landlords are fighting back against high street Company Voluntary Arrangements (CVAs), that allow retail and restaurant businesses to close stores and reduce rents. The CVA process was designed to help struggling companies avoid permanent insolvencies, but there is a growing…
The Company Voluntary Arrangement (CVA) successfully agreed by Debenhams recently will knock £8.5 million off the company’s business rates bill, affecting 59 local authorities in the UK. The terms of Debenhams’ CVA, which was overwhelmingly agreed by the firm’s creditors…
The parent company of two of Manchester and Cheshire’s best-loved chain restaurants is pursuing a Company Voluntary Arrangement (CVA) that puts eateries and jobs at risk. Giraffe restaurants in the Trafford Centre and Manchester Airport could close as part of…
Intu, the shopping centre chain that owns the Trafford Centre, saw its shares tumble 9% this week following a tough year in the retail sector. The retail landlord â which was the subject of two failed takeover bids last year…
When a company is insolvent, directors have a legal responsibility to take action. At this point, the directors should approach a Licensed Insolvency Practitioner who will advise them on the best course of action. Depending upon the circumstances, an Insolvency…
Upmarket stationary retailer Paperchase has reportedly called in advisers to explore a potential Company Voluntary Arrangement (CVA) that would help the company cut costs. The Telegraph reports that the chain, which has outlets across Greater Manchester, is considering a CVA…
How to Close a Solvent Limited Company If a company has the money to pay its bills then it is solvent. Solvent companies are relatively easy to close. The cheapest way is to get a company struck off the Register…
Gourmet Burger Kitchen is just the latest restaurant chain to hire restructuring advisers and is reported to be looking into new rent agreements and restaurant closures, which could result in a Company Voluntary Arrangement (CVA) being proposed to it’s creditors.…
Homebase Macclesfield and Warrington to Close Following CVA Two Homebase branches are set to close in the North West as the struggling DIY retailer tries to make savings following a Creditor Voluntary Arrangement (CVA). If the CVA is approved by…
Our friendly and experienced insolvency team is here to help you find the right way forward. Whether your business is facing financial pressure, creditor or HMRC issues, or you’re considering closing your company, we’ll provide clear, confidential guidance and practical support every step of the way.
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