Fri, 28 Apr 2017 | BUSINESS NEWS
The number of winding-up petitions issued by creditors to companies are on the rise, new research from the Business Sale Report shows.
From July to September 2016 494 winding-up petitions were issued, a decrease of 30 per cent on the previous quarter, but since then they have steadily risen, with 581 issued in the final quarter of 2016 (up 18 per cent) and 742 issued between January and March this year, a 28 per cent rise.
"A winding-up petition is a legal document submitted by a creditor that is designed to force a company into liquidation and pay the debt owed to the creditor," said the Business Sale Report's Helen Moore.
“This quarter-on-quarter rise is a reflection of the current uncertain business climate. However, winding-up petitions can be a lucrative opportunity for distressed businesses buyers as in some cases, the end result of a winding-up petition is not liquidation but administration.”
If you are looking for a quick and simple way of finding a business in financial difficulties that has the potential to be turned around, a subscription to the Business Sale Report includes access to a winding-up petitions alerts service.
Read more about how the winding-up petition works, and what the opportunities for business buyers are, here.
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