Hospitality, retail and leisure

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Industry/sector guides

Our industry/sector guides for restructuring and insolvency professionals are designed to provide an insight into the aspects of a given industry/sector that are most likely to be relevant in an enforcement, restructuring or insolvency context. Companies in the selected industries often have specific corporate and financial structures and the industry may be governed by regulatory requirements.

What this topic covers

This topic includes:

Care homes

  1. •

    Guide to insolvency in the care home industry—this Practice Note, produced in partnership with Mark Prior of Squire Patton Boggs (UK) LLP, gives guidance on taking enforcement action in the care home industry. It includes insight into common care home ownership structures and ways to structure a sale of an insolvent care home business around potential regulatory issues. It also includes some points to consider when drafting a sale agreement relating to an insolvent care home business

Food and drink

  1. •

    Insolvency in the food industry—this Practice Note, produced in partnership with Paul Caldicott of Blake

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The Insolvency Service has reported that Zahid Afzal, director of Phone Bits Ltd and Phones Onn Ltd, received a two-year suspended sentence for fraudulently obtaining £150,000 in coronavirus bounce back loans (BBL). Afzal had already received legitimate loans totalling £52,500 when he applied for three additional £50,000 loans between May and November 2020. The Insolvency Service is pursuing recovery of the fraudulently obtained funds under the Proceeds of Crime Act 2002. Afzal was charged under the Fraud Act 2006 after transferring the majority of the fraudulent loans to personal accounts.

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Council endorses Directive to harmonise EU insolvency laws and enhance cross-border investment

The Council of the EU has announced its endorsement of the EU Directive aimed at harmonising key aspects of insolvency law across member states. This initiative is designed to align national insolvency regimes, thereby reducing legal divergences that currently deter foreign and cross-border investment. Notably, the Directive introduces a pre-pack mechanism accessible in all member states, enabling the pre-negotiation and swift execution of business sales during insolvency, along with provisions for the automatic transfer of essential executory contracts under controlled safeguards. In addition, the directive mandates the establishment of creditors’ committees in certain cases to enhance creditor participation, with harmonised rules regarding their composition, rights, duties, and liability—with the option for member states to confine this requirement to large enterprises. Further measures agreed in December 2024 include protections for the insolvency estate, clarified directors' duties regarding insolvency proceedings, and strengthened transparency obligations. The Council now intends to negotiate with the European Parliament to finalise these provisions into law.

Insolvency Service publishes May 2025 enforcement outcomes management information

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