More struggling businesses in Northern Ireland could face insolvency proceedings as courts restart hearings of creditor led winding-up petitions.
The action was suspended during the Covid-19 pandemic but was reinstated this week.
A winding-up petition is when a creditor (someone who is owed money) applies to a court to close down a company.
Usually that is because the business has not been able to pay its bills.
In June 2020, new legislation came into effect in England and Wales which meant companies in financial distress were protected from creditor action.
It gave companies breathing space to look at their accounts and try to figure out a way forward.
However, it did not come into effect in Northern Irela…
Read the full article at: https://www.bbc.com/news/uk-northern-ireland-65316645