'Phoenixing' - The Companies Rising from the Ashes

The businesses that go bust – only to re-emerge under a different name with no debts. There are now calls for tighter regulations around so-called ‘phoenixing’ where companies rise from the ashes of collapsed businesses leaving employees and creditors with huge debts of their own. The practise also costs local authorities and HMRC billions. 5 Live Investigates hears the stories of those who’ve been left out of pocket and from those who want unscrupulous directors outlawed for good. Also, tool thefts from vans and the tradesmen who say their livelihoods are threatened but they can't get the police to take them seriously.Photo Credit = Paul Ellis\Getty