Business recovery
Our primary objective is to put you on the road to business recovery without the need for formal insolvency processes.
Our primary objective is to put you on the road to business recovery without the need for formal insolvency processes.
During your free initial consultation, we can use our extensive experience to complete a business review. This allows us to quickly get to the root of the problem and provide instant feedback. We will be able to consider a range of options available to you. If we are consulted early enough, our advice may help you avoid the need for any formal insolvency processes.
After this consultation, we will start to develop both short and long-term proposals, tailored specifically to the needs of the business. We will help you and your business get back on the road to recovery
You will receive a full and transparent fee proposal for any work required. With flexible fee structures, we can work with your business to integrate the payment of any fees into our proposals. This takes away the stress of further escalating costs.
We understand that time is always critical in distress situations, and we will be on hand to give you our full attention. We can also liaise with our network of trusted professionals to assist where necessary with refinancing, legal assistance and many other areas. These advisers are carefully selected to be able to support and assist within short timescales. They also offer flexible fee plans and experience in dealing with the unique issues of a distress situation. This support allows you and your management team to return your focus to running the business. You can then concentrate on key aspects to make a return to profitability and stability.
We are always happy to work alongside other professional advisors, and this includes turnaround advisors. In fact, we often refer matters to these professionals to assist with ongoing long-term support to the business. However, we would always advise directors to take great care to ensure any unregulated advisor is fully recommended and qualified to provide advice.
Insolvency Practitioners are licenced and must adhere to strict practicing regulations and guidelines. We are required to undergo regular training and monitoring, and to stay fully up to date to advise on all available options. In choosing a licenced practitioner, you can be assured that regulatory bodies will deal with any complaints. By engaging us at the very start, you can also be assured there will be no duplication of work. Therefore, this avoids unnecessary fees should a formal insolvency process be required later down the line.
Company Voluntary Arrangement (a legally binding agreement between the Company and its creditors. This is used when there is a genuinely viable business going forward, where directors remain in control of the business).
Partnership Voluntary Arrangement (similar to a CVA but used for a partnership, often with interlocking Individual Voluntary Arrangements).
Administration (appointment of a licenced Insolvency Practitioner to possibly trade the business either to return to solvency or to make a sale. The Administrator will be responsible for the Company).
Only licenced Insolvency Practitioners can carry out formal insolvency processes.
Administration serves are a rescue procedure for insolvent businesses. This allows them to continue to function and carry out the day-to-day running of the business. Administration is seen as an alternative or a predecessor to liquidation. For a company to be put into administration, there must be an administration order. Once a company is in administrative receivership, an administrator operates the business on behalf of the creditors.
If you have any questions about our administration services in Leicester, then please speak to our team today.
Whether it be formal or informal, a rescue process is most effective when done as early as possible. If you have any questions regarding business recovery or you are in any doubt, please contact us now to discuss your options.
