4R Blog

RSS Feed

Insolvency Service launches Red Tape Challenge

Date Added: 28/08/2012  

Companies in danger of being served with a winding up order could see the process streamlined after it was claimed that more could be done to make it efficient.

The Insolvency Service has revealed that it is set to take part in the Red Tape Challenge and vice-president of the insolvency trade body R3 Liz Bingham stated this is a great chance to create an even more effective insolvency regime.

She explained that even though the insolvency service in the UK is among the best in the world, more could be done to improve it.

"Any stakeholder who has ever been a part of it ... will see that there is much more that can be done to facilitate a more streamlined and efficient system," said Ms Bingham.

Research recently published by R3 showed around half of retail jobs are saved when companies in the sector are forced to declare themselves insolvent, while 48 per cent of the stores survive the process.

Need advice on Winding up Orders? Call 0800 9020123

Posted by Michael Beam

Get the Help You Deserve

0800 90 20 123

Urgent Help Call 24/7

020 7183 2606

We'll Call You

Request a Callback