Save Consultants Ltd claimed to provide insolvency practitioner services when none of its current or former directors were licensed by the regulatory bodies.

Its actions risked undermining the insolvency regime and the company’s directors refused to explain its trading practices to investigators from the Insolvency Service.

The company has been closed down and the Official Receiver appointed to wind up its affairs.

Save Consultants Ltd advertised itself as an alternative solution to formal insolvency proceedings, providing a brokerage service to assist directors in financial distress to sell their interest in companies and leave their debts behind.