If your company cannot pay its bills now, you foresee difficult times ahead or you want to cease trading, there are several paths to choose from.
We are experienced in finding the right solution for companies and partnerships in any situation; whether solvent or insolvent.
A company can be rescued through Administration or a CVA. A business (what the company does) can be saved by an Administrator or Receiver selling it, although the company will be lost.
Creditors' Voluntary Liquidation
(Insolvent Liquidation)
If your company has run out of cash and there's no possibility of trading on.
Administration
(Protect the company whilst you come up with a plan)
If your company is in financial difficulties but there is still hope.
Members' Voluntary Liquidation
(Solvent Liquidation)
If your company has served its purpose and you want to take the cash out.
Compulsory Liquidation
(Insolvent Liquidation)
The Court has decided that the Company in insolvent.
Company Voluntary Arrangement
(Trade on or take control)
If your company has a plan that creditors can support.
Receivership
(The lender takes control)
If the bank loses patience with your company.
Partnership insolvency
(LLP or traditional)
If your partnership is in financial difficulties.