Weather The Storm With Directors Circle: Things were looking better by the end of July 2021. We were given more freedom from Covid restrictions and a few more planes were flying off to warmer lands. Those not wanting to risk being hostage to a period of quarantine tried to buy the last remaining caravans, only then to find that the Calor gas bottles were in short supply. The Covid Pandemic cut a swathe right through critical organisations, not just our NHS but parts of the economy that many of us were not even aware of.
By August 2021 the late to the party homeowners that were trying to keep up with the Jones’s, were finding wood prices were putting their plans for a Garden Bar onto the back burner. Late deliveries of various commodities were not available because all the Romanians had gone home. Meanwhile farmers had ploughed their vegetables back into the fields as the Latvians, Estonians and Lithuanians had also upped and left. Strangely, refugees landing in Kent in record numbers, having shown to be fit by paddling across the channel, were not allowed to fill the vacancies.
September 2021 arrived and worse was to come. The newspapers were full of doom and gloom – Power shortages resulting in winter power cuts have been predicted, food shortages increased due to a shortage of CO2 – Welcome to the prospect of returning to the early 1970s – not the same without Bowie, bell bottoms and waiting in for a phone call.
October 2021 is just around the corner. On the 1st of October, winding up petitions are back on the menu. The UK Think Tank, “Orian” has predicted that up to 650,000 small businesses, could receive a winding up petition for historic debts. It has also predicted that the majority of winding up petitions will be from those companies that facilitated CBILS & BBLS through the British Business Bank – all because the Government has insisted on proof of insolvency prior to honouring the 80% guarantees. Around 75% of small business Covid loans are estimated to be no-recoverable.
It was thought that the high number of insolvencies that the return of winding up petitions would bring would be comprised of Zombie and Turpin companies – unfortunately the Covid scars went far deeper than predicted and the plasters are off! Good companies will now be at risk. Politicians are constantly saying that all this alarmist scaremongering. It probably is but would you bet against it?
Anyway, not long to Christmas so get your Christmas dinner in your freezer now!
If you think that you may be one of the unlucky ones to receive a winding up petition then please call 03330508518 and we will show you how to keep your company trading, weather the storm with Directors Circle.