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Turnaround and Insolvency
How can we help?
Apart from helping to relieve a client’s stress, an early meeting with us can be the catalyst for:
- Identifying appropriate ways to obtain additional finance
- Improving debt collection
- Restructuring business
- Buying time through administration
- Setting up voluntary arrangements
- Planning for a secure future
From the opposite viewpoint we can also advise on the rights and remedies of any person affected by the insolvency of a third party, e.g. customer, spouse or business partner.
When can we help?
Ideally a commercial client should consult us as soon as they perceive that their business is running out of steam, or cash. An individual should come to us when they realise their credit position is getting out of control. However, we also regularly advise businesses that have reached the point of insolvency or individuals who are on the verge of bankruptcy or already in bankruptcy. We can advise company directors who are worried they may be facing legal proceedings.
Dispelling the Myths
Most people still find it easier to bury their heads in the sand than to take the first step to sorting out their problems. Just to dispel three of the most common myths…
- Asking us for help is not an admission of failure. It is merely recognition of the fact that a business or individual has insufficient assets to meet debts and liabilities – a situation which can be arrived at via many different combinations of circumstances.
- Size doesn’t matter. We are happy to help both businesses and individuals to find solutions to their financial problems.
- The financial clock doesn’t start ticking as soon as you call us. We can give a free initial consultation to explore how we can help and will work with you to keep costs down.
A new approach
The traditional view of the insolvency practitioner is very similar to that of the undertaker. Death has already occurred and the only thing left is to bury the pieces.
The new approach is very different – by discussing clients’ problems as soon as they arise and finding practical solutions, we aim to turn today’s struggling businesses into tomorrow’s success stories.