Welcome to our website which is dedicated at providing information about many aspects of insolvency services and the options you can take, whether as a business or an individual.
For the past 35 years our family have been helping and supporting businesses and business owners recover from difficult trading situations. For us the concept of Harbour Business Group is to help companies identify trading issues with an emphasis on survival. We pride ourselves on our empathetic approach and always look to restore and revitalise the individuals original passion for business, leaving them and the business in a far better place.
UK government statistics for England and Wales indicate fewer insolvencies in recent years. In 2014 a total of 14,040 companies entered into liquidation, the lowest total since 2007. Of which 10,203 were voluntary liquidations, and 3,738 were subject to compulsory winding up orders. The number of company administrations and company voluntary agreements also fell in 2014. Please click the graph image of insolvency statistics to be displayed in full.
Personal insolvency in England and Wales also continue to decrease. In 2014 there were a total of 99,196 individual insolvencies, a small decrease to 2013 but continuing a downward trend that now see these are the lowest annual level since 2005. In 2014 there were 20,318 bankruptcy orders and is at the lowest level since 1998. This is partly due to the increase of individual voluntary agreements (IVA’s) which are not at a record high. There were also 26,688 debt relief orders made. Please click the graph image of insolvency statistics to be displayed in full.
Business insolvency covers many aspects such as business liquidation whether voluntary or compulsory, administration, CVA (corporate voluntary agreement), and MVL (members voluntary liquidation). A statutory demand order or winding up petition may also have been issued to force a business into one of these options.
Personal insolvency is for individuals or non limited type businesses such as sole traders and partnerships who make have to look at being made bankrupt, enter into an IVA (individual voluntary agreement), or at a personal level the options for a debt relief order.
Finance and Bridging is worth considering to raise short term finance for a business to avoid insolvency and areas that should be considered are: factoring, improved collection of debts, mortgages, bridging loans, re-financing, grants that may be available, even private venture capital.
In addition to the above information about insolvency services and options we have compiled an Insolvency Guide which provides links to UK Gov documents over many topics.
There is a also an Insolvency News section where press releases from the UK Insolvency Services are published about businesses and directors falling foul of the law.
Whatever the circumstances and the timing, it is essential that a business or individual seek expert advice regarding any insolvency issues.
Direct links to insolvency sections:
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