As discussed in a Walsh Taylor article back in May, Carillion’s collapse at the start of the year had and continues to have a profound impact on the country’s entire construction industry.

New research undertaken by trade body R3 has discovered that the impact of insolvency is just as punishing elsewhere, with recent findings showing that 26% of UK companies have struggled financially because of a supplier, customer or debtor becoming insolvent in the past six months.

To add to that, one in ten businesses reported that they would describe another organisation going insolvent as ‘very negative’, whereas 16% of the respondents would deem it ‘somewhat negative’.

These figures lay bare the realities of the so-called ‘domino effect’, where one insolvency is likely to trigger others. This has certainly been seen thus far in 2018, as high-profile cases featuring the likes of Toys R Us and Maplin have hit the headlines.

Andrew Tate, spokesperson for R3, commented that every heavily-publicised corporate insolvency is bound to bring consequences for fellow enterprises. He also pointed out that middle-sized companies are less likely to have the same credit control resources as larger ones, a reminder that all smart businesses should know the importance of mitigating risks and that the insolvency and restructuring professions have a crucial role to play in helping to bring things risks under control.

Over the past ten or so years, our Leeds, Harrogate, Bradford and Darlington-based licensed insolvency practitioners have helped hundreds of businesses facing the possibility of insolvency across Yorkshire and the North East. They do this with a sympathetic and practical yet professional approach with all clients.

Should you want to arrange a free, no-obligation chat to discuss your options, please feel free to call Walsh Taylor today on 03300 244 660.

Mary Taylor

Mary began working in insolvency for a national accountancy practice in Glasgow thirty years ago and worked in most divisions of the insolvency department.

She then moved to a smaller firm so she could advance her knowledge on a more hands on basis. She moved back to Leeds in 1987 and commenced working with a small firm of accountants and subsequently made partner.

She left in 1999 to set up her own practice, McCann Taylor.
McCann Taylor became involved with the consumer market both in England and Scotland.

Mary sold McCann Taylor in March 2007 and formed Walsh Taylor to concentrate on helping businesses experiencing financial difficulties.

Meg Heath

Meg has a background in supporting SMEs, including the raising of finance and advising on organisational change. She is a non-executive director of companies in the private and third sector, including Walsh Taylor.

Previously she was Deputy Fund Director of one of the largest CDFIs in the UK, and has experience of the social enterprise, charity and private sectors. Her experience of assisting companies to survive and thrive has been gained across a broad range of sectors and in companies of all sizes.

In addition to her work at Walsh Taylor she works for other private companies, including non-executive and trustee positions.

Emma Mifsud
Insolvency Practitioner

After graduating from Leeds University in 2005 with a BA Hons degree in Criminology, Emma worked for a regional law firm in both the property department and insolvency and banking department. Whilst doing so Emma gained a Graduate Diploma in Law at BPP University.

Emma then joined a national accountancy firm in 2009 gaining experience in personal insolvency before moving to a Leeds based firm. At this firm Emma specialised in bankruptcies, IVA’s and negotiating informal agreements with creditors. In 2013 Emma gained her CPI qualification.

Since joining the firm in December 2013, Emma has taken on a portfolio of personal and corporate insolvency cases to extend her knowledge and expertise in all areas of insolvency.

In December 2017 Emma become a licensed appointment taker under the Insolvency Practitioners Association, she is JIEB qualified.

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