Company director? BBLS? CBILS? RLS?
Are you a director of a UK limited company who’s used any of the above support? Are you still facing challenges now in the absence of additional support? If so, find out more on the figures, your duties and options that may be available to you.
- Almost 10,000 businesses have stopped trading or gone into insolvency since taking taxpayer-funded cash to help during the pandemic.
- This is in addition to the £5.8 billion claimed fraudulently from the emergency Covid schemes such as furlough and Eat OutTo Help Out.
- The Insolvency Service has identified 9,733 companies in England, Wales and Scotland that became insolvent between May and October 2021, after receiving a Bounce Back loan.
- The scheme provided £47.4 billion in credit with 1.6 million loans.
- Businesses are expected to make every effort to repay loans and whilst most payments are being made as expected, there could be thousands more that are not able to repay.
- Given the pressures on the Government as well as the media negativity, it is imperative that directors who are unable to pay back their loan, seek advice from an insolvency practitioner.
- WorkCap have partnered up with business rescue and insolvency specialists BABR, who are offering free consultations to discover the options available to you.
- With an exemplary track record in enabling directors to amicably close their limited companies for the benefit of all stakeholders, their expert team is on hand to speak with you now.
- To find out more head to babr.co.uk or call their friendly team on 020 8662 6070