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Government extends Covid insolvency measures to end June
The Government has announced that it has extended temporary insolvency measures to support businesses during the pandemic by a further three months. The measures, which were introduced in the Corporate Insolvency and Governance Act in March 2020, and include...
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Supporting your clients on the road to recovery
COVID-19 has been the most difficult challenge for companies in a lifetime – the protracted closure of parts of the economy has left many businesses with little or no cash reserves and uncertainty about the nature and timing of the recovery. Businesses are being...
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Parliamentary report criticises Bounce Back Loan Scheme
Parliament's Public Accounts Committee has published a “withering” report* into the Bounce Back Loan Scheme (BBLS), put in place to help businesses through the height of the Coronavirus pandemic. The report shows that, while the focus was on speed of delivery, the...
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Collaborative and agile approach needed to support Gatwick Diamond businesses
Andy Pear of BM Advisory explores the challenges faced by businesses in and around Gatwick and offers advice to business owners to help navigate these challenging times and emerge resilient for the future: Gatwick Airport has been the beating heart of West Sussex...
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Critical steps to safeguarding recruitment business cash flow
The year 2020 has ushered in unprecedented challenges for the recruitment industry. With many employees having been placed on furlough, unemployment at a 5-year high and the UK in the midst of recession for the first time in 11 years, it is unsurprising that...
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Acropolis Capital acquires the Hummingbird Bakery
Michael Solomons and Andrew Pear of BM Advisory LLP acted as joint administrators. The Hummingbird Bakery (Hummingbird) has announced that it has been acquired by Acropolis Capital, enabling the business to honour thousands of Valentine’s Day orders across London....
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For Sale: London Based Cupcake & Cake Business
Sale Type: Businesses for Sale Status: Active Gordon Brothers is acting on behalf of the proposed Administrators from BM Advisory LLP, in respect of an established cupcake and cake business with a number excellent locations across London. Additional to the London...
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Reintroduction of Crown Preference from 1 December 2020: The Winners and the Losers
From tomorrow, under the Finance Act 2020, HMRC will regain its status as a preferential creditor for insolvencies that commence on or after 1 December 2020. This means that, in an administration or liquidation, HMRC moves up the rankings of who gets paid out first,...
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BM Advisory appointed as Joint Supervisors of Select CVA
Michael Solomons and Andrew Pear of BM Advisory LLP, the specialist restructuring, recovery and insolvency firm, have been appointed as Joint Supervisors of the Company Voluntary Arrangement (CVA) of Genus UK Limited trading as Select Fashion (“the Company”). The...
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New bill heralds biggest change to insolvency law in two decades
Following its Royal Assent on 26 June, the Corporate Insolvency & Governance Act 2020 is the largest change to the UK’s corporate insolvency regime in more than 20 years. It introduces new corporate restructuring tools alongside temporary easements to give...
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