Number of New Insolvencies drop during summer months

The British summer is known for bringing cloud, wind and rain.  And this year it has been no different so far.  The summer also signals school breaks and holidays for many of us in Britain. 

In Insolvency, there is a trend developing each summer where the number of new insolvencies drops as people tend to take their eyes off their financial position and try to make it through the summer enjoying themselves.  As a result, come Autumn, struggling individuals and businesses tend to find the noose tightening around their necks and scramble for help in any shape or form to overcome the troubles they are facing.

The Summer does not stop creditors pursuing you.  The sooner you act on any form of creditor pressure usually means a positive outcome for ailing businesses and their creditors.  Business consultants such as ourselves have experience in dealing with these situation.  Why wait for Autumn when you can deal with issues now and have a good summer as well?

Provided the sun keeps the rain away of course..

Peterborough NHS Speculation - Hit Back

Peterborough and Stamford Hospitals (PASH) NHS Foundation Trust has hit back at comparisons made of its financial position with that of South London Healthcare NHS Trust. PASH NHS Trust was forced to issue a statement amid speculation over its financial position following news the London NHS trust may enter administration as a result of a £69 million hole in its finances for the financial year 2011/12. However, Nigel Hards, chairman of PASH NHS Trust said the organisation has created a five-year recovery plan to deal with a £54.3 million loss brought about by PFI repayments for its £289 million Peterborough City Hospital. PASH have explained that as a foundation trust they are regulated in a different way. Although there are significant financial issues there is also a five-year recovery plan in place which is in the process of being approved by the Department of Health. It is then a situation that will be reviewed to help assess the recovery.

The hospital have made it clear that staff and patients should be assured that although there are issues, the board is working closely with the regulators in order to stabilize the situation.

Nigel Hards, chairman of PASH NHS Trust says “Although this cannot happen immediately, we believe we have a robust plan that spans the next five years.”