Updated: 5th February 2020
Financial problems can beset companies of all sizes and in any industry. For an overview of some of the most common financial concerns that companies face click the video below.
If you’re a director of a struggling company, firstly you’re certainly not alone, and secondly it’s crucial to realise that there may be numerous options available to you.
Financial troubles can sometimes come out of the blue such as through the loss of a key contract or client, leaving you with the feeling of the rug being pulled from under your feet. Or perhaps they have been on the cards for some time and your attempts to improve the company’s position have been unsuccessful.
Thousands of companies across the UK face financial distress and insolvency every year but to varying degrees; some require minor restructuring and debt advice to be prosperous once again, others require more significant action in order to avoid the company being placed into liquidation and it ceasing to trade.
We specialise in the recovery and turnaround of UK companies through a number of different solutions, starting with analysis of your company’s financial situation in order to secure the best option for your business going forward. One option for a viable business to take, when it is profitable but unable to pay its debts when they fall due, is through a Company Voluntary Arrangement – known as a CVA.
Regardless of how your company finds itself in this situation, it is important for directors to seek advice at the earliest possible opportunity. We often see company directors who have avoided addressing the company’s difficulties and have buried their head in the sand, which can severely limit a company’s options going forward.
You can take steps towards alleviating company troubles by arranging a free confidential consultation with one of our insolvency practitioners who can help shed more light on the possible options available to your company.