Corporate
Creditors voluntary liquidation
A voluntary closure of the company as it can no longer continue to trade due to its indebtedness
Compulsory liquidation
A creditor forced closure when seeking to recover their debt
Administration
A company rescue process for businesses suitable for sale as a going concern
Members voluntary liquidation
A distribution of the companies assets, usually following a sale or closure of the business
Company voluntary arrangment
A company rescue process for business seeking a longer term solution to their problems
Receiverships
A secured creditor appointment to recover their mortgage over property
It is a natural human reaction when faced with debt or business insolvency to avoid discussing the problem. If it is a business facing financial problems there is the added strain of keeping up appearances for employees, suppliers and customers.
Many people believe that Insolvency Advisors are only called once a company has actually become insolvent, but this isn’t the case. By involving an Insolvency Advisor whilst the company is still solvent, even if in financial difficulties, it may be possible to help turn fortunes around and trade profitably again.
If your business is facing creditor legal action, or struggling with cash flow that is threatening the future of the business, obtaining professional advice from a licensed Insolvency Advisor can make a real difference to the fate of the business.
We can offer advice and support whatever stage your business is at, but the sooner you involve us, the more options you may have.