Late payments continue to challenge small and medium-sized enterprises (SMEs) across the UK, as outlined in the 2023 Prompt Payment and Cashflow Review. The report reveals that 62% of small businesses experience delayed payments on a regular basis, severely...
A creditors’ voluntary liquidation (CVL) is a solution where the business has become insolvent and unable to pay its debts as they fall due. Where a decision is made to liquidate the assets in order to pay off creditors, a CVL may be the appropriate option for you. It is important you seek advice immediately in this situation, call our insolvency team on 01616 966 229.