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	<title>Insolvency Archives - Irwin Insolvency</title>
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	<title>Insolvency Archives - Irwin Insolvency</title>
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		<title>Received a Winding-Up Petition? What Next?</title>
		<link>https://www.irwin-insolvency.co.uk/received-a-winding-up-petition-what-next/</link>
		
		<dc:creator><![CDATA[Gerald Irwin]]></dc:creator>
		<pubDate>Mon, 04 Aug 2025 23:18:14 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[Insolvency]]></category>
		<category><![CDATA[winding up]]></category>
		<guid isPermaLink="false">https://www.irwin-insolvency.co.uk/?p=4123</guid>

					<description><![CDATA[The first thing you that should do after receiving a winding-up petition is to contact a professional insolvency practitioner immediately. Don’t ignore it, or delay responding. A qualified expert can assess your situation before advising on next steps – helping you to avoid the permanent closure of your business by an order of the court. How long have I got to protect my business? There are always steps you can take, regardless of which stage a winding-up petition is at. Typically, winding-up proceedings are fast-moving. Here’s how they unfold: Day 1 A winding-up petition is served on a company at its registered office. It will include details of the debt owed together with the creditor’s information Days 1 to 7 Options include: ·       Repaying the debt in full ·       Disputing the debt ·       Negotiating a [&#8230;]]]></description>
		
		
		
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		<title>Are Company Insolvencies on the Rise in the UK?</title>
		<link>https://www.irwin-insolvency.co.uk/are-company-insolvencies-on-the-rise/</link>
		
		<dc:creator><![CDATA[Gerald Irwin]]></dc:creator>
		<pubDate>Mon, 30 Jun 2025 10:00:44 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[Insolvency]]></category>
		<guid isPermaLink="false">https://www.irwin-insolvency.co.uk/?p=3302</guid>

					<description><![CDATA[In uncertain economic times, many businesses face financial distress. Understanding the current trends and causes of company insolvency can help owners act before it&#8217;s too late. Company Insolvencies in England and Wales Key Insights: In May 2025, there were 2,238 company insolvencies, up 15% year-on-year and 8% higher than April 2025. In June 2025, insolvencies dipped to 2,043, still 16% higher than June 2024, but 8% lower than May 2025. For the 12 months to June 2025, the insolvency rate was 52.4 per 10,000 companies (~1 in 191), down from 55.8 per 10,000 the year before. Total company insolvencies in 2024 reached 23,872, a 5% decrease from 2023, the highest year on record. Insolvency Type May 2025 April 2025 May 2024 % Change (May 2025 vs April 2025) % Change (May 2025 vs May 2024) [&#8230;]]]></description>
		
		
		
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		<title>5 Practical Tips to Help You Avoid Bankruptcy</title>
		<link>https://www.irwin-insolvency.co.uk/5-tips-on-avoiding-bankruptcy/</link>
		
		<dc:creator><![CDATA[Gerald Irwin]]></dc:creator>
		<pubDate>Fri, 14 Feb 2025 10:58:07 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[Bankruptcy]]></category>
		<category><![CDATA[Insolvency]]></category>
		<category><![CDATA[Irwin Insolvency]]></category>
		<guid isPermaLink="false">https://www.irwin-insolvency.co.uk/?p=1573</guid>

					<description><![CDATA[Bankruptcy is often viewed as a last resort for those in serious financial distress. While it&#8217;s a legal tool that can provide a fresh start, the reality is that it can have long-term effects on your credit, reputation, and peace of mind. The good news? Bankruptcy can often be avoided with early action and smart financial habits. Whether you’re starting to feel the pressure of debt or just want to stay financially healthy, here are five practical tips to help you avoid bankruptcy. 1. Create and Stick to a Realistic Budget Effective budgeting is your first line of defense against financial trouble. Track your income and expenses every month and plan ahead for big payments. Prioritise paying down high-interest debts first and allocate funds for essentials like housing, food, utilities, and transportation. Try to build [&#8230;]]]></description>
		
		
		
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		<title>How Will Declaring Bankruptcy Affect My Credit Rating?</title>
		<link>https://www.irwin-insolvency.co.uk/how-will-declaring-bankruptcy-affect-my-credit-rating/</link>
		
		<dc:creator><![CDATA[Gerald Irwin]]></dc:creator>
		<pubDate>Tue, 09 Mar 2021 15:29:30 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[Bankruptcy]]></category>
		<category><![CDATA[Insolvency]]></category>
		<category><![CDATA[personal bankruptcy]]></category>
		<guid isPermaLink="false">https://www.irwin-insolvency.co.uk/?p=4236</guid>

					<description><![CDATA[Bankruptcy is an effective way for individuals to clear their outstanding debts and gain a fresh financial start. But there are important implications to consider in regards to personal credit ratings. Bankruptcy will seriously affect your credit score. Inevitably, it becomes more difficult and complicated to apply for loans or to secure a mortgage. However, it’s far from impossible. Bankruptcy isn’t lifelong, and while it becomes more challenging to secure future credit with a lower credit rating, it is possible to build your score back up. In this article, we asked our expert financial team at Irwin Insolvency how bankruptcy affects your credit rating. What Happens When I Declare Bankruptcy? Bankruptcy occurs when an individual mismanages their finances and can no longer pay their creditors – a business cannot be declared ‘bankrupt’ in the United [&#8230;]]]></description>
		
		
		
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		<title>The ‘Super Scheme’ That Could Save Your Company from Insolvency</title>
		<link>https://www.irwin-insolvency.co.uk/the-super-scheme-that-could-save-your-company-from-insolvency/</link>
		
		<dc:creator><![CDATA[Gerald Irwin]]></dc:creator>
		<pubDate>Tue, 09 Mar 2021 15:15:30 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[coronavirus]]></category>
		<category><![CDATA[corporate restructuring]]></category>
		<category><![CDATA[Insolvency]]></category>
		<guid isPermaLink="false">https://www.irwin-insolvency.co.uk/?p=4234</guid>

					<description><![CDATA[In June 2020, the government announced the biggest changes to the United Kingdom’s insolvency laws that the country has seen for decades. In the midst of a global pandemic with businesses facing tough decisions in a declining economic climate, the UK Corporate Insolvency and Governance Act (CIGA) has been welcomed by many business leaders as a ‘super scheme’. In times of crisis, the UK Corporate Insolvency and Governance Act offers a lifeline for Saving Your Business from Insolvency Primarily aimed at combating the fallout of coronavirus and an ever-mounting casualty list of insolvent businesses, the super scheme offers company directors new ways to effectively restructure their business through the courts. The ultimate goal is to provide struggling businesses with flexible ways to reorganise, survive and eventually become profitable again. The scheme has been described as [&#8230;]]]></description>
		
		
		
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		<title>How Employees Are Protected in the Case of Insolvency</title>
		<link>https://www.irwin-insolvency.co.uk/how-employees-are-protected-in-the-case-of-insolvency/</link>
		
		<dc:creator><![CDATA[Gerald Irwin]]></dc:creator>
		<pubDate>Tue, 09 Mar 2021 12:46:06 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[Company Administration]]></category>
		<category><![CDATA[Insolvency]]></category>
		<category><![CDATA[liquidation]]></category>
		<guid isPermaLink="false">https://www.irwin-insolvency.co.uk/?p=4229</guid>

					<description><![CDATA[Insolvency occurs when a business can no longer pay off its debts. This difficult financial situation has challenging implications for employees, who may be owed wages, holiday pay or sick pay. Insolvency can have multiple outcomes for a business, but employees need to know exactly how they’re protected throughout the insolvency process and what rights they’re entitled to should the company be liquidated. In this article, we ask the expert team at Irwin Insolvency how employees are protected in the case of insolvency. Here’s what they had to say. What Happens When a Company Becomes Insolvent? Insolvency is not an easy process for anyone involved. Insolvency must be declared when a business no longer has the necessary funds to pay its creditors. Financial mismanagement, bad business decisions or sheer bad luck (especially in the case [&#8230;]]]></description>
		
		
		
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