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What does it mean to declare insolvency?

Because of the COVID-19 virus, an increasing number of businesses are declaring insolvency. But does that mean they are lost and gone forever? Not necessarily. Business Correspondent Katy Austin explains the different options for firms when they go bankrupt.

3 April 2020

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People in high-vis jackets walk next to a car submerged in floods on the left of a split screen with a snowy road on the right

Atmospheric river dumps snow and record rain on California

Science & Environment

Phone footage of a skate surfacing out of grey waves to a rigid inflatable boat.ttack the side of a inflatable

Watch the moment a skate attacks a fisherman's boat off Shetland

NE, Orkney & Shetland

Smoke billows from house fire.

Video shows flames and thick smoke at house fire

A view from an EasyJet plane window as it flies above and to the side of an erupting volcano

Plane passengers film Iceland volcano lava from above

BBC News

East of England weather forecast

Composite image of Sir Keir Starmer and BBC Radio WM presenter Kath Stanczyszyn, who is pictured wearing headphones and speaking into a purple microphone

Will there be a Birmingham pub bombings inquiry?

Birmingham & Black Country

A huge Christmas tree on a flatbed lorry in font of the US Capitol building

US Capitol Christmas tree arrives in DC

Blurred still image from video clips shows people being taken out of a car

Migrants asked to rate trip in smuggler review videos

John Darvall sat on the left of a composite image, in a purple studio with a microphone in front of him. On the right is Keir Starmer with grey hair and brown glasses.

PM challenged on West's councils facing bankruptcy

BBC Newsline

BBC Newsline signed summary

BBC Scotland weather presenter Christopher Blanchett in front of a weather map of Scotland showing snow warnings.

Watch the Storm Bert weather forecast for Scotland

Mural of The Smiths bassist Andy Rourke unveiled

Parts of West Burton A power station being demolished

Power station demolition captured by drone

Man clinging to a cliff being rescued

Moment person clinging to cliff is rescued by helicopter

A woman in a hospital gown grins on the left and a monitor lit up with lungs is on the right of a split screen.

Woman gets first double lung transplant done by robot

Ryan Borgwardt

US kayaker who faked own death thought to have fled to Europe

Ruth Dodsworth in the BBC studios in Cardiff. She is sitting on an orange sofa. She has cropped blonde hair and is wearing a fitted mauve top,

Stalking was part of my daily life, says presenter

A Christmas tree with lots of blue and green lights. A building nearby has yellow lights and a red bow so it looks like a present. You can see people stood in front of the building.

Manx capital sparkles at Christmas lights switch-on

A woman has her make up done in a Swansea salon for Beaujolais Day

'Beaujolais day is Swansea's Christmas'

A woman polished a large Gromit statue at the launch of the Gromit Unleashed 3 trail in Bristol. The statue has a multicoloured sparkly pattern. The woman is wearing a red and white shirt and a black dress over the top and she has red hair cut in a bob style

Aardman unveils new Wallace and Gromit trail

Rachel Reeves

Watch: Reeves 'deeply proud' to be first female chancellor

The Chancellor has presented her first Budget in the Commons.

Twins James and John Makanjuola,

The twins cleaning London's unloved spaces

Entrepreneurs James and John run a cleaning firm, but take it to the next level in their spare time.

Paula Vennells at the Post Office inquiry

Key moments from former Post Office chief's three-day testimony

Paula Vennells faced three days of questions about her role in the wrongful prosecution of hundreds of sub-postmasters.

Paula Vennells reaching for a tissue in the Post Office inqiuiry

Ex-Post Office boss cries while giving evidence

Ex-Post Office boss Paula Vennells is speaking about the incident for the first time in ten years.

Santiago Paredes

Whistleblower claims Boeing supplier sent faulty parts

Spirit AeroSystems supplied Boeing with faulty parts, a former quality inspector has told the BBC.

Tatti Lashes

Tatti Lashes: The school friends who built a beauty empire

Charlotte Tiplady and Elliot Barton explain how together they built up their Tatti Lashes beauty empire from Liverpool.

Ocado has added robotic arms to its newest warehouse near Luton.

Watch Ocado robots in action

Ocado has added robotic arms to its newest warehouse near Luton.

Business Headlines

BBC World News business headlines

The latest international business headlines from BBC World News.

Jo Hamilton

'I feel survivor's guilt' says Post Office victim

Former sub-postmaster Jo Hamilton told BBC Breakfast she feels "guilt" after settling with the government over the Horizon IT scandal.

Woman in sunglasses smiling while answering questions related to the Budget

Watch: 'My biggest financial regret is...'

People in Kent share their finance stories ahead of Wednesday's Budget. Would you share yours?

Mohsin Issa

Issa brother to step back after 'fixing' Asda

Mohsin Issa, one half of the so-called "billionaire brothers" who own Asda, says he plans to hand over the running of the UK's third biggest supermarket.

Robots

'We had to adapt our robots to the AI revolution'

Sandy Enoch of Robotical explains why he had to pivot his educational robot company due to AI.

Picsart

'AI won't steal your job, but people using it may'

Hovhannes Avoyan, founder of picture and video editing app Picsart, shares his advice for our CEO Secrets series.

Picture of The Body Shop storefront in the 80s

'They thought it was a sex shop' - The Body Shop in the '80s

Archive footage shows Dame Anita Roddick talking about her company's success, in an 1984 interview.

Raid on Co-op store

CCTV shows violent raid on Co-op store

The retailer gave the footage to the BBC as it warned of a rise in attacks on retail staff.

Sir Howard Davies

Not that difficult to buy a home, says NatWest chair

Sir Howard Davies says he believes it is not currently "that difficult" for people to get on the housing ladder.

Joanna Jensen

'A viral Facebook post nearly blew up our business'

Joanna Jensen, founder of skincare brand Childs Farm, shares advice for start-ups for our CEO Secrets series.

Ofcom chief executive Dame Melanie Dawes

Broadband rises must be 'clearer', says Ofcom boss

The regulator has plans to make mobile and broadband firms more upfront about mid-contract price rises.

Earring

'This earring helped me build my £4bn business'

Richard Harpin, co-founder of Homeserve, explains how an earring taught him an early business lesson.

Olivia DeRamus and BBC reporter Lora Jones

'Taking control of my abuse story'

Olivia DeRamus set up an app in the wake of her sexual assault. Now she's ready to take on Big Tech.