Is your business showing signs of financial distress?
We have over 30 years’ experience working with financially distressed businesses and offer a free confidential, no obligation, options review. This will allow you to make an informed decision on the way forward for your business. We will make sure you are aware of how your duties and responsibilities change when facing a financial crisis and ensure you minimise the risk of personal liability. The earlier we can get involved the more options there will be.
Insolvency rarely happens in an instant. Warning signs usually develop over a period of time, but the important thing to remember is that the sooner advice is sought, the more chance of the company surviving.
Contact us now, whatever the issue we will give you the right advice.Contact
As a director feeling under pressure from creditors, whether it be HMRC or a trade supplier threatening legal action, you need someone who can identify the issues quickly and recommend a suitable strategy that will either save the company or the business.
Contact us now, we are committed to helping you find the right solution.Contact
As the current market for business changes and evolves almost daily, we cannot provide you with an exhaustive list of the financial products that could be available to you, but what we can provide to business owners is a guide to the options that are potentially available to you and your business. We work closely with many providers of finance to businesses that are financially challenged.
Contact us now and we will identify the right finance and provider for your business.Contact
The company administration process is now well known as one of the most effective ways of allowing a company to either trade out of its current financial difficulties, or to allow restructuring. The legislation is complex, although here at McLenan Corporate we are extremely experienced in both the basic administration process and that of the pre-pack administration process.
Contact us now, if you think this may be an option for your business.Contact
Company Voluntary Arrangement
A CVA is quite different to other forms of insolvency – the control over the daily trading activities and daily management and administrative decisions remains with the directors. The Insolvency Practitioner is only there to ensure that the company complies with whatever obligations are approved by the company’s creditors as part of the CVA proposal.
Contact us now if you would like to know more about this very flexible tool.Contact
Liquidation is perhaps the most common form of insolvency procedure. Effectively there are three types of liquidation:
- Members Voluntary Liquidation – this process is used for solvent companies and is often used as a method of distributing capital in a tax efficient manner.
- Creditors Voluntary Liquidation – the most common type of insolvency, effectively used to wind up a company, where a company ceases to trade due to its liabilities being considerably greater than its assets.
- Court liquidation – where a company is wound up through the courts – usually following a winding up petition by HMRC or a creditor.
Insolvent liquidation is always viewed as the end of the road, but it may still be possible to sell the business and assets and save related jobs.
Contact us today, sometimes Liquidation is the best option.Contact
Support for Accountants and Solicitors
We offer free advice to other professional advisers and their financially distressed clients. If any of your clients would benefit from our expertise please do not hesitate to reach out to us. We are happy to attend any meetings or telephone calls to support you and your client. We will also provide a free options review to allow them to make an informed decision on the way forward.Contact