01 NOVEMBER 2023
Partner Richard Curtin featured in Business Today and the Legal Diary
Quoted in an article in Business Today reporting on the newly released Insolvency Services statistics, Partner Richard Curtin discusses the challenges faced by businesses.
The article looks at how the figures signal major distress in the business sector, with rising interest rates and low consumer confidence further exacerbating the challenging environment.
Richard’s sobering analysis is that “The statistics released today by The Insolvency Service are the worst since 2009.”
He goes on to look at rising interest rates, explaining that for companies already facing liquidity challenges, this increase could be the “final nail in the coffin.”
With final comments on the responsibilities of company directors, Richard notes, “Any director knows when their business is in a difficult position, so to plead ignorance and do nothing about it is untenable.”
Richard was also quoted in Edward Fennell's Legal Diary on the Insolvency Service statistics.
Please note that this post has been prepared for the purpose of providing general information in a non-specific situation. Legal advice should be taken in relation to your particular circumstances. It is not intended that this post is relied upon by any party, and no liability is accepted for reliance.