Simple Liquidation blog

Over the years, large corporations, often well-known internationally, have become insolvent for various reasons. Whilst some of them have famously closed down, and long since been forgotten, there are also many that managed to recover from the brink of failure.  The success stories can sometimes be hailed as the vision of leadership – would Apple have risen to such international success without the return of Steve Jobs? Or would Starbucks have survived the early day troubles without former CEO Howard Schultz, coming back to take over the reins again? Business recovery from near disaster isn’t down to just one person; it takes a dedicated team. Let’s look at two Success Stories on business recovery from looming failure; Lego and Marvel. Read Simple Liquidation Success Stories 

There is no getting away from the fact that money and mental health are connected. Now, as the UK faces one of its most significant cost of living crises in decades, there is no doubt that people’s mental health will be hit. Is there any Connection Between Mental Health and Debt? When you are struggling with your mental health, it makes earning money a lot more difficult. Not to mention that once you have earned that money, managing it becomes an issue. When you find yourself getting into debt, this can trigger mental health conditions or worsen existing ones, such as stress, anxiety and depression. There are several common misconceptions when it comes to debt. Many people think that people find themselves in debt because they live a lifestyle that others deem excessive and spend far too much money in places where they don’t need to. This isn’t the case. The fact is that some of the most common triggers of debt are unemployment and redundancy. This can happen to anyone, regardless of t...

What is a Licensed insolvency practitioner?   A Licensed insolvency practitioner – is someone who is licensed to act on behalf of companies and individuals when they are facing insolvency or acute financial distress. A licensed Insolvency Practitioner is also able to help directors of solvent companies who have chosen to liquidate their company by way of a Members’ Voluntary Liquidation (MVL) in order to extract held profits.   In the majority of cases, a company director will voluntarily approach a licensed Insolvency Practitioner and enlist their help in dealing with their distressed company.    Duties of a Licensed Insolvency Practitioner   While a Licensed Insolvency Practitioner will, generally, be instructed by the directors seeking company insolvency advice or by a debtor, they have a rapidly changing role. In all cases, they will usually start out by advising the board, moving to the point where they are overseeing the balance of interes...

According to Ernst Young (EY), although Foreign Direct Investment (FDI) fell in Europe last year, the UK reversed this trend and attracted plenty of foreign investment, totalling 63 projects in 2021. EY’s UK Attractiveness Survey for Financial Services continues to demonstrate that foreign direct investment in the UK in 2022 is still leading the way for overseas investment. Indeed, the UK secured more ‘new’ investment projects than any other nation, next to the US. In 2021, of the 63 new financial services projects, 54 were new, whilst the remaining 9 were expansions of existing projects. This trend for FDI in the UK, which is the opposite of what’s happening in Europe, is further backed up by new data that suggests the UK can continue to expect further financial investment in the future. A global investors survey on behalf of EY in February and April 2022 showed that when it comes to European investment, the UK is still the most popular (67%) with investors. So, what’s the level of FD...

It’s official; the UK is the most attractive country for young people across the G20, according to the latest survey from Ipsos, the research specialists. The British Council asked Ipsos to conduct the research that surveyed 20,616 people across the G20 countries, aged 18-24 years old, in September and October 2021. The results showed that not only did the UK ranking in G20 nations continue to remain strong, but that overall, the country’s attractiveness has increased. But why is the UK so attractive to young people? For the fourth time since 2016, the British Council wanted to get an insight into what young people thought about the UK, why it is so attractive to them and the level of trustworthiness of the G20 countries. Following the survey of over 20,000 people across 19 of the G20 countries, the UK pipped Canada to the top spot. The highest UK ranking in G20 nations was led predominantly by ‘trust in institutions’; that being, our education system is considered the best of the G2...

With rising inflation and the cost of living crisis in the UK, there has been much talk in recent months of an impending recession in the UK. Some experts believe that the country is already in a recession, albeit mildly, while others are predicting 2023 is the year a recession will hit the UK. Others are saying that although it may look like the UK is in a recession, there are certain industries bucking the trend. It’s hard to decipher whether a recession is looming, particularly when the economy records a growth of 0.5% in May this year. Whilst this may be a small growth, it is an upward trend that many experts hadn’t predicted. On the reverse side of the coin, GDP in the UK dropped by 0.3% in April as the cost of living crisis started to really bite. So, is there going to be a recession in the UK ?

In April 2020, the government launched their Bounce Back Loan Scheme (BBLS) to help small and medium-sized businesses through the coronavirus pandemic. It allowed companies to borrow up to £50,000, depending on turnover, at a very low-interest rate and without having to pay a penny towards paying back the loan for 12 months. The government collaborated with leading banks and financial firms who offered and managed the BBLS initiative, including Natwest, TSB and the HSBC Bounce Back Loan. In May 2021, some of the first receivers started to pay back their loans but as it became clear that Covid-19 was still with us and with many restrictions still in place, recovery for businesses was extremely slow. So the government announced their Pay As You Grow (PAYG) scheme, where companies were able to get support in paying back their loans, including extending the loan period. Check HSBC Bounce Back Loan Repayment Extension