The government has told business leaders it will take a “cautious approach” to firms that owe it money in the wake of the coronavirus pandemic.
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Demands from businesses to extend the furlough scheme were rejected by Rishi Sunak last night – despite the expected delay to ending lockdown.
How many times have we heard that a Company that has outstanding liabilities has been dissolved by the Director at Companies House without going through a formal Insolvency process
Primark’s owner will repay £121 million in furlough money claimed under government job retention schemes and pay out a dividend to shareholders despite a slump in profits.
Banks are braced for a flood of small business customers topping up bounce back loans tomorrow when Rishi Sunak reopens the Covid-19 rescue scheme, even after a £38bn lending spree.
HIGH street fashion chain Edinburgh Woollen Mill (EWM), which owns Peacocks and Jaeger, is close to collapse, with 24,000 jobs in the balance, according to documents filed with the High Court.
The number of people whose finances deteriorated so badly that they have become insolvent is predicted to have increased year-on-year in official figures released on Friday.
The number of struggling UK businesses has soared to “unprecedented levels” since the Brexit vote, and an interest-rate rise this week could push hundreds of thousands of firms over the edge, experts have warned.
Businesses struggling to stay afloat through the Covid-19 crisis could be saved by new rules designed to protect them from “aggressive debt recovery” and stop them going bust.