Extension of restrictions on winding up petitions announced as further easing of covid restrictions delayed.

The Insolvency Service announced yesterday that the restrictions on statutory demands and winding up petitions will remain in place for a further three months until 30 September 2021 to protect companies from creditor enforcement action where their debts relate to the pandemic.

This further extension will give businesses what could be a final opportunity to take stock and make plans for managing accrued debt before creditor pressure mounts as we emerge from the pandemic.

Business owners and managers may wish to take professional advice as they do so.