Understand your company's position and learn more about the options available
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While nobody sets out with the intention of their company failing, unfortunately many businesses will experience some form of financial difficulty at some point.
What you need to remember during this time is that experiencing financial or operational difficulties with your limited company does not necessarily mean your business is beyond rescue.
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Although it may be difficult to see a way out, there are a range of rescue and recovery options that may be able to help you deal with the debts of your business. This could involve negotiating with creditors for more favourable payment terms, protecting your company from ongoing or threatened legal action, or giving you the time and space to restructure your company to help it return to a profitable state.
This can be done under the guidance of a licensed insolvency practitioner who will be able to assess your company’s current position, and put in place a robust yet flexible plan to help you navigate the challenges you are facing.
For some companies, however, their problems will have taken the business past the point of rescue, and in these instances, it is essential that the business is wound down in an orderly manner via a formal liquidation process.
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As the director of an insolvent company, you have a legal duty to protect the interests of your creditors and ensure your actions do not cause them to suffer further financial losses. By enlisting the help of a licensed insolvency practitioner, we can ensure your company’s affairs are brought to an end in accordance with these legal obligations and that the business is closed down in an orderly manner.
At Real Business Rescue, our licensed insolvency practitioners speak to limited company directors just like you each and every day. We can help you understand your options and put a plan in place going forwards.
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Real Business Rescue are here to help
Still unsure whether liquidation is right for your company? Don't worry, the experts at Real Business Rescue are here to help. Our licensed insolvency practitioners will take the time to understand the problems your company is facing before recommending the best course of action going forward based on your own unique circumstances.
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