Official FAQ Answer Wiki at SavvySME
What are your options when your sole trader business is facing insolvency?
How should you handle an unmanageable debt? What can you do when insolvency is on the horizon?
Last modified date: 2019-06-09 07:21:39
Insolvency
Insolvency occurs when a business can no longer pay its debts. It is illegal for directors of a business to continue operations and incur further debt when their business is insolvent. Insolvency can be the result of either mismanagement or simple misfortune so it is important for all
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