Dealing with phoenix companies
Published: 30 January, 2018
Sarah Carlton examines the business practice of launching a phoenix company after insolvency.
Its a sad fact of life that businesses can and do fail. Sometimes the failure is deliberate, but often there is nothing sinister the company may have been wounded fatally by a lost contract, a significant hike in a rent or rates, or has been unable to adapt to changing market conditions.
There are numerous examples of companies that have been wound-up in recent years including Kinetics Group, Ploughcroft Building Services and Tubs & Tiles but some businesses never really go away.
Phoenixing describes the practice of carrying on the s…
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