Liquidation and Business Rescue Advice in Durham
“Welcome to Real Business Rescue in Durham. I’m Gerald Krasner, and alongside my team of business recovery professionals, we are dedicated to helping companies and their owners understand their options when their business is struggling.”
At our Durham office you will find a highly experienced and hugely talented team of licensed insolvency practitioners and business turnaround professionals, headed up by Partner Gerald Krasner. Gerald and his team are committed to helping limited companies and their directors and shareholders as they navigate their most challenging times.
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If you believe your company is at risk of becoming insolvent – or maybe you have reason to believe it already is – you should make it a priority to seek the services of a licensed insolvency practitioner for expert help and advice.
Asking for help when your company is struggling is a difficult step to take, however, rest assured there is a solution to your current problems and Gerald and his team will work tirelessly to identify the most appropriate course of action for you and your company. When it comes to business recovery, there is not a one size fits all solution. Instead, the best strategy to implement will depend on a number of factors including the level of debts the company has, its asset value, its ability to repay creditors, as well as its likely future prospects.
Depending on how your company fairs on these points, we can consider both formal and informal options including:
- A Company Voluntary Arrangement (CVA) which functions as a formal payment plan between a company and its creditors. With a CVA monthly repayments on existing debts are renegotiated to come to a figure which is acceptable to the creditor, while also being affordable for the company. A CVA must be accepted by creditors before it can become legally-binding, and this requires a carefully calculated and presented proposal to be put forward. Gerald has huge amounts of experience negotiating CVAs and having these successfully agreed to by creditors.
- Placing the company into administration which can provide protection against threats of litigation from disgruntled creditors while a plan is devised to save as much of the business as possible or else increase returns to creditors.
- Negotiating a Time to Pay (TTP) arrangement with HMRC, which as the name suggests, gives a company additional time (up to 12 months) to bring its tax liabilities up to date in an affordable and manageable way.
Get in touch
Don't Worry - There are thousands of other company directors going through the same process. No matter what position you are in and need looking for options, speak to a member of the Real Business Rescue team. It's Free & Confidential. Get in touch with your nearest office today on 01914 031 193
Unfortunately, sometimes a company cannot be saved despite all efforts to do so. In this instance, we can explore the possibility of liquidating the company through a director-initiated process known as a CVL and what this will mean for you, your employees, and your creditors.
For further help and advice on all aspects of insolvency, you can make an appointment with a licensed insolvency practitioner at our Durham office, or at our supporting offices in nearby Sunderland or Newcastle.