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Monday, 9 January 2012

What is a phoenix company?

With the prospect of more companies failing over the next year the term "phoenix company" may be become more commonplace.  This is where a new unencumbered company rises from the ashes of the old indebted company to carry on the business. 

Some feel the practice is allowing directors to escape debts too easily and others say it is a natural recycling of failed businesses....

Please see our new page outlining the phoenix process along with some of the pitfalls to be aware of.

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Many thanks for your comments. If you have a private business problem and you want advice give us a call on 0800 9700 539 or email me at keiths@companyrescue.co.uk. If you are a professional advisor with a troubled client, please suggest they visit www.companyrescue.co.uk or contact me as above.

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