A combination of economic factors, the after-effects of the pandemic, and a widespread complacency from company directors have caused a significant spike in the number of UK insolvencies, market participants have said.
Directors are leaving it far too late to take the steps needed to save jobs, said Claire Burden, head of advisory consulting at Evelyn Partners.
Insolvency is always the last option. Directors should be proactive, taking all action possible.
Burden also warns of the potential for a raft of claims against directors for failing to protect the interests of the company and its creditors.
According to new data published by the Insolvency Service, England and Wales saw a 21% annual rise in the number of company insolvencies …
Read the full article at: https://www.accountancyage.com/2022/12/15/directors-leaving-it-far-too-late-as-uk-insolvencies-surge/