Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy if he will bring forward legislative proposals to facilitate the restructuring at an early stage of viable businesses in order to prevent their insolvency and any adverse consequential effects on other firms and jobs in the supply chain.

Government has recently consulted on whether improvements could be made to the existing restructuring options available within the insolvency regime. A summary of responses to this consultation was published in September 2016. Government has continued to discuss the proposals with interested parties and the issues that they raised since this time. This further engagement will ensure that any reforms, if necessary, will be fit for purpose and best achieve the Government’s aims of rescuing distressed but viable businesses, therefore preserving both value and jobs.