Rescue & recovery

It is a well known fact that many business failures could have been avoided if the owners had taken the right advice at the right time. Some of the commonest causes of company collapse are bad debts, reduced demand, excessive borrowing, and low property values. All too often business owners do not face up to these problems until it is too late.

Moreover, directors who ignore such problems run the risk of committing offences under the Insolvency Act such as fraudulent trading, misfeasance, wrongful trading, and preferential or undervalue transactions - for which the penalty might be disqualification, or worse!

The key is to seek professional help as soon as the first signs of difficulty appear. With timely advice a company may be saved from liquidation or receivership, particularly if there is a genuinely profitable core to the business. Our team can help you identify the possible causes of your problems and recommend potential solutions to improve profitability and cashflow.

In some instances it is possible to arrange a corporate or individual voluntary arrangement, which will allow you an opportunity to try to trade out of difficulty. However, there are times when the only option is to consider if your business needs to go into administration, receivership, or even insolvency. In either of these circumstances, it is vital that advice is taken from a Licensed Insolvency Practioner and we can advise and assist you by making introductions to a variety of such professionals who we have long standing working relationships with. To try and avoid such situations arising, often the best advice is to come in for regular business health checks so we can identify potential difficulties at an early stage and recommend appropriate courses of action in good time.