Insolvency
Unfortunately, some businesses get into financial difficulties, not necessarily through any fault of their own. Whatever the reason, this inevitably can be a stressful period for all concerned. Directors may have given personal guarantees, or the business can be trading while insolvent, unable to pay its debts.
Matters can quickly get out of hand in these circumstances, but if consulted at the right time, we can play an influential role in brokering deals with banks and key creditors which can allow time to restructure the business or a voluntary winding-up with reduced liability on the owners or directors.
Although we are not insolvency practitioners, we work closely with accountants and insolvency practitioners to achieve practical solutions minimising the impact on the parties involved.