Jameson Smith & Co Ltd

Visit our website for more information on business debt and insolvency solutions at http://www.companydebt.com

Monday, 24 October 2011

New website is almost done!

Our new website www.companydebt.com is almost complete.

We have been working hard, trying to design a website that will be both user friendly and informative. We think that our visitors will find www.companydebt.com an easy site to navigate and full with helpful information.

We have also included an internal Blog within the site to keep visitors up to date with what is going on in the world of insolvency and what we are doing.

For information on voluntary liquidation and other forms of company liquidation you can visit our other site www.company-liquidation.com.

Monday, 17 October 2011

Quarter 3 Company Administrations Up:

The amount of administrations carried out for limited companies is on the rise according to the London Gazette this week with an increase of 7.8 per cent. Cases in London remained the same as last quarter and the North East has seen the largest change in percentage with a 46.2 per cent increase. The Midlands saw a rise of 24.7 per cent.

Statistics from the London Gazette suggest the construction industry were the hit the hardest out of all the sectors. The retail industry and the services industry followed not far behind.

Other sectors included during the last quarter are 50 property companies, 67 from manufacturing, 60 from leisure and hospitality, 26 from healthcare and 55 from the Telecoms, media and technology industry. 

Company Administration can be a viable solution depending on the insolvency situation involved. If you would like to know more about administration or other insolvency solutions available contact us on 08000 747 757.

Wednesday, 12 October 2011

New Liquidation Website:

We have just launched the new look for our company liquidation website. www.company-liquidation.com provides information and guidance for Directors who's company may be approaching insolvency.

Although the focus of the site is on the different forms of liquidation such as a Creditors Voluntary Liquidation or a Members Voluntary Liquidation there are also pages covering company rescue solutions and informal insolvency arrangements with creditors.

For more information on insolvency and the solutions available please visit our company liquidation site at www.company-liquidation.com 

Tuesday, 11 October 2011

ASD (Europe) set to go into liquidation:

ASD (Europe) who has provided the football kits for huge football clubs such as England, Chelsea, Liverpool, The Republic of Ireland, Real Madrid & AC Milan is set to go into liquidation and be wound up soon. The meeting of creditors has been arranged for the 13th October 2011.

This just supports the recent figures showing an increase in stress being applied to the retail sector and with insolvencies up by nine percent on the same period last year we may see more retailers hanging in the balance within the up-and-coming months and the post Christmas period.

For more information on how insolvency solutions may be able to help your company contact Jameson Smith & Co today. We are well placed to talk you through any potential insolvency questions that you may have, from company liquidation to company rescue solutions such as a company voluntary arrangement or general company debt advice, we can help.

Monday, 10 October 2011

Debt Management Firms Under Fire:

Three debt management firms have been targeted by the Office of Fair Trading as their standards have not been met.

What was once known as the 'UK Insolvency Helpline' can no longer trade on using this name. Money Advice Direct has been told by the Office of Fair Trading that it can no longer trade under the 'UK Insolvency Helpline' name as it could confuse potentials clients in regards to the commercial nature of the business.

Two other firms have also been targeted by the OFT.

The Director of Consumer Credit at the Office of Fair Trading has announced that if debt management companies do not meet their standards the OFT will take action against them.

Thursday, 6 October 2011

First Quartile Limited Complete Pre-Pack Administration:

A marketing company (First Quartile Limited) to brands such as JP Morgan, AXA & Prudential has finished a Pre-Pack Administration and is to be sold to a London-based agency.

MacIntyre Hudson were appointed as Administrators earlier this month.

A Pre-Pack Administration can be a much cleaner process as it gets rid of the retrospective liabilities attached to the legal entity, allowing for a clean start going forward.

To find out more about insolvency solutions and some of the services available to your company contact us.

Wednesday, 5 October 2011

Retail Businesses Struggling:

R3 have released a statement in their Business Distress Index. They have stated that a quarter of the retailers that they keep an eye on within the five hundred businesses included in the Index will have some sort of cash-flow problems in the near future. Sixty percent have already stated that they have seen a decrease in profitability.

Retailers have been going through a tough period since the start of the recession but now ten percent of them are expecting to go into administration within the next twelve months.

Of course the retail industry is not the only sector to be hit hard, there are many businesses struggling across the UK at the moment from all walks of life and with corporate insolvencies on the rise we can expect to see more challenging times ahead. 

As a business owner in troubled times you should seek advice on insolvency as soon as possible. In an ideal world Directors and Sole Traders would be educated about the risks of insolvency and the processes involved before their businesses became insolvent. The Internet has a wealth of knowledge on insolvency from information on company liquidation and company rescue solutions to knowing how to deal with creditors like HMRC or managing informal arrangements.

If your cash-flow is giving you headaches then get in touch to see how we can help solve your business issues.

Tuesday, 4 October 2011

Corporate Insolvencies Have Risen in Quarter 3 of 2011:

In comparison with the same three months last year corporate insolvencies have risen by nine percent.

The hardest hit sectors include the construction industry, retail, property and the leisure industry.

Businesses from all sectors will need to address their projected cash-flow in detail, but no more so than the retail industry. Retail business owners may be feeling happy that the last month or so is behind them, however, with Christmas just around the corner everything may hang in the balance over the traditionally busy period coming up. Without a clear plan of what needs to be done to avoid insolvency we could see even more businesses struggling to pay their bills post Christmas.

Insolvency can seem daunting to any business owner but if faced with company liquidation or bankruptcy times can seem extra stressful. If you are concerned about the up and coming months give us a call to get your options completely free of charge.

Facebook Page!

Jameson Smith & Co now has an Insolvency Facebook page. Check it out at http://www.facebook.com/pages/Jameson-Smith-Co-Ltd-Voluntary-Liquidation-Company-Rescue/261641470520397?sk=wall

Monday, 3 October 2011

Company Liquidation:

HMRC are taking a very strong stance against companies who's directors are not managing their tax affairs correctly. Last year over 40% of all winding up petitions were initiated by HMRC, that statistic is set to rise this year as HMRC have put out to tender for many high court enforcement officers to help bring in some of the tax that is owed.

Since the recession started businesses have been hit hard right across all sectors and directors are being forced to question the viability of their companies. Now with HMRC taking such a firm stance against SME's a large percentage of businesses are considering their options.

Insolvency can seem overwhelming and when it all gets too much directors will often consider company liquidation to close their company down. Voluntary liquidation usually comes in two forms, a Creditors Voluntary Liquidation and a Members Voluntary Liquidation, the latter being for solvent companies. When a company becomes insolvent and the directors decide to close the company down a Creditors Voluntary Liquidation is usually a suitable solution to implement.

For more information on this solution please click: Creditors Voluntary Liquidation.