Business Recovery

In today’s difficult economic climate many businesses run into financial difficulties and need assistance to kick start with a new strategic plan or manage their creditors to allow them to trade out of the situation.

Directors must be diligent in their actions once the business finds itself under financial strain, the main signs of which are:-

  •  Crown Debt beginning to fall overdue  (eg VAT, PAYE / NIC, CORPORATION TAX )
  •  Customer balances falling into the 60 day + bracket
  •  Suppliers reducing credit terms or demanding payment with orders
  •  Bank squeezing overdraft limits and bouncing cheques
  •  Order book drying up

We can help to manage the business out of the problem and give an honest diagnosis of the most appropriate course of action which could be:-

  •  Refinance using alternative funding sources
  •  Making agreements with the creditors including HMRC
  •  Negotiating further finance from the existing banks
  •  Discussing the company strategy and how to amend it to foster growth going forward       
  • OR
  • In worst case scenario assist in winding the company up with the use of an accredited Insolvency Practitioner