Insolvency practitioners have the difficult task of either trying to rescue a business or guide clients successfully through an insolvency process including liquidations, company voluntary arrangement, administration and receiverships.
Assessment
Before leaping to the pre-pack or administration conclusion, we can help IPs or distressed businesses, if contacted early enough to try and rescue the business first by assessing the financial position, the business issues and management issues, setting out a turnaround plan and then compare that to formal insolvency procedures.
Taking action
We will then liaise with funders, HMRC and other creditors to approve payment plans that will not adversely compromise their debts, which is a possibility when the courts are involved. We will help to build forecasts, try to raise funds, and set out a recovery plan. In some cases, winding up the business may be the only solution and we can also provide financial management support should this need to happen.
Our team will work at board level with directors, shareholders, funders and other parties involved, as well as managing any conflicting interests, dealing with detailed work such as collecting debts and the administrative burden on a cost- effective basis without the need for expensive staff resource to be maintained.
Further information
If you would like to find out more about this service or to arrange a no-obligation meeting, contact us on 0845 129 9900 / 01582 516300 for a call back.
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