As MPs depart Westminster for the summer parliamentary recess, we are taking stock of an important piece of legislation for the insolvency and restructuring profession, and its progress so far through parliament.
The insolvency and restructuring profession plays a fundamental role in the UK economy. Research we published earlier this year showed that, in 2019, the profession rescued 7,200 businesses, returning an estimated £1.82 billion to creditors and saving an estimated 297,000 jobs in the process. It has also helped over 60,000 businesses and 144,000 people by providing qualified advice about the insolvency and restructuring options available to them.
After a year like no other, and with considerable uncertainty remaining about what will happen in coming months, directors and business owners could be forgiven for being unsure about the best path forwards.
Ahead of the Budget on 3 March, we set out what the insolvency and restructuring profession would like to see in it, to help rescue businesses and plot a path to economic recovery...
“Dealing with money worries – a guide to your options” is a new resource from R3, and sets out the statutory amd non-statutory options for dealing with debt, for anyone worried about their financial situation.
James Jeffreys
Stuart McBride
Giorgio Buttironi
