Rescue & Recovery

 

Many business failures could be avoided, if owners took professional advice at the right time.

 

Some of the most common causes of company collapse are due to bad debts, excessive borrowing, diminished property values and a reduction in demand. It is a sad fact that business owners do not face up to their problems until it is too late.

 

Directors ignoring such problems run the risk of unwittingly committing offences under the Insolvency Act, such as fraudulent or wrongful trading and preferential or an undervalue of transactions which will carry penalties.

 

If your business is showing any signs of difficulty, do not delay in seeking professional advice. It may be saved from liquidation or receivership, particularly if there is a genuine profitable core, which sometimes is inadvertently overlooked. Our team of professionals can assist in identifying the cause of your problems and can recommend solutions to improve profitability and cash flow before its too late.

 

In some instances it may be necessary to seek advice from a licenced insolvency practitioner. They may be able to assist you in arranging a corporate or individual voluntary arrangement, which will allow you an opportunity to trade out of difficulty. Should there be no alternative and your business has to go into administration, receivership or insolvency they will also support you through this process. 

 

Unfortunately we are not licenced to provide insolvency advice and as such cannot be held responsible for any advice received from third parties. 

 

Call us now to discuss getting your rescue & recovery plans in place on 0113 391 9990.

Victoria Atkinson

Accountant - FCCA

Victoria Atkinson Image

Telephone: 0113 391 9990