There are many reasons why businesses
get in to financial difficulties. It may be a result
of:
a change in the market for your
products or services
new competition from a supermarket
or a rival company undercutting your prices
additional
costs to meet new EU and Government regulations
bad
debts or slow payers that have seriously affected
your cash flow
estimating errors
taking on a high
level of hire purchase or bank borrowing to complete
an order that does not get repeated
Whatever it is,
you must get professional help as soon as you identify
the difficulties. We can
advise
you
on a range of actions and assist you to follow
an agreed plan to achieve the full recovery of
the business.
They include:
a reconstruction of
your business through an Administration procedure
putting
proposals to your creditors to resolve your
problems by a settlement of less than you owe
liquidating your
company in an orderly way, enabling you to
plan ahead without the burden of debt
refinancing your borrowing
in a sensible way, ensuring that you can
meet the commitments from future
profits and cash flow.
Doing
nothing is not an option you
must take advice as soon as financial problems emerge
