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Recent Articles

Bounce Back Loans & Director Drawings

The use, or misuse, of bounce back loans has been a hot topic of late with vastly different positions being taken by directors.  Some have been overly cautious about taking out any bounce back loan monies as personal income, whilst others have withdrawn large sums for personal benefit without any thought for the consequences. If …

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Frequently asked questions about Liquidations

What is a Creditors’ Voluntary Liquidation? Creditors’ Voluntary Liquidation (CVL) is the process where the Directors of an insolvent company can voluntarily take steps to wind up the company. The Directors call a meeting of the company’s shareholders to consider resolutions to wind up the company and decide on a decision procedure for creditors to …

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Could my Company Benefit from an Independent Business Review?

Introduction Independent Business Reviews (IBRs) are often requested by a lending bank when a company looks to be in some form of financial difficulty.  They can be viewed by directors as a painful, expensive exercise enforced by the Bank and which can lead to further financial problems.   However, there can be a benefit in …

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Frequently Asked Questions

Bridgewood is a trading style of Bridgewood Financial Solutions Limited (Company No: 06957765). Registered Office: Poynt South, Upper Parliament Street, Nottingham, NG1 6LF. Registered in England and Wales.

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Thomas Grummitt and Andrew Smith are licensed to act as Insolvency Practitioners in the UK by the Insolvency Practitioners Association. In carrying out all work related to an insolvency appointment, insolvency practitioners are bound by the insolvency code of ethics and are subject to the regulations and guidance of their authorising body. Details of the code of ethics, statements of insolvency practice and other regulations and guidance issued by the Insolvency Practitioners Association can be found here: