The Corporate Insolvency and Governance Act 2020 introduced various temporary measures to help protect companies affected by the lockdown restrictions during the pandemic.
Most of these measures expired at the end of June and September 2021, except for restrictions on winding up companies, which were extended until 31 March 2022.
This remaining insolvency restriction will not be extended further, allowing the insolvency regime to return to its pre-pandemic operation.
Business leaders are being advised to seek professional insolvency advice to protect their business.
The Government has also announced a new law to help resolve certain remaining rent debts in the commercial rental sector.
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