Rescue and Recovery
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Directors who ignore the signs of a failing business run the risk of
committing offences under the Insolvency Act such as fraudulent trading,
misfeasance, wrongful trading and preferential or undervalue transactions – for
which the penalty might be disqualification – or worse!
Many business failures can be avoided if the owners take the right advice at the right time.
Some of the commonest causes of company collapse are bad debts, reduced demand, excessive borrowing etc. All too often owners do not face up to these problems until it’s too late.
The key is to seek professional help as soon as the first signs of difficulty appear. With timely advice a company may be saved from liquidation or receivership, particularly if there is genuinely profitable core to the business.
We have connections to highly trained professionals who can help you identify the cause of your problems and recommend solutions to improve profitability and cashflow.
Various options are available along with legislative assistance, and with our involvement can often assist in providing a satisfactory outcome to your problems.