When a whole company in the engineering sector went into administration it became apparent that there were a number of companies that the management team were unclear about, a phenomenon commonly known as ‘corporate memory loss'. Despite being little more than empty shells, the companies had remained part of the group for so long that no one involved in the group was clear about the reasons for their continued existence. Nevertheless, the dormant companies required costly maintenance in the form of filing accounts and other corporate administration, as well as providing a confusing overall picture of the group’s structure.
Once those companies had been identified our team of specialists undertook MVLs to tidy up the group’s structure, saving costs and streamlining the entire engineering group.
23rd March 2017 The incoming changes to the business rates regime in the UK are already taking their toll on small businesses throughout the country.
22nd March 2017 Companies within the UK’s construction industry could lose as much as 8 per cent of their workforces on average as a result of Britain’s departure from the European Union (EU).
10th March 2017 The tax burdens faced by pubs throughout the UK are threatening the survival of the entire industry, according to the boss of one of the largest pub chains in the country.
8th March 2017 The Chancellor has announced his 2017 Spring Budget featuring some changes which will affect businesses up and down the country. Find out more about what Phillip Hammond unveiled today.
3rd March 2017 Struggling lingerie retail business Agent Provocateur has been acquired out of administration in a pre-pack deal apparently worth tens of millions of pounds.
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