Business Recovery Services Advice
Do you have business financial problems?
Is your company in financial trouble?
If a company is falling into financial difficulty there are a number of business recovery services solutions that can be looked at
with the aim of succeeding in turning around the business.
Clearly the first solution that business people consider is to secure additional funding either from investors or their bankers. Unfortunately in the current climate, it is becoming more and more difficult to borrow funds from these sources. This situation will be made even worse if a company is already struggling.
Business Turnaround
If your company is struggling, it is sensible to consider alternative ways of resolving business financial problems and to look at other Business Recovery (or Business Rescue) solutions.
This does not have to mean looking at winding the company up (either with Compulsory Liquidation or Voluntary Liquidation).
- A Company Voluntary Arrangement can be used to restructure a company’s debt allowing it to trade normally but without the day to day burden of historic creditors.
- An Administration Order can be used to restructure a company so that it is better placed to develop and grow into the future.
- Phoenixing or Pre-pack Administration may be appropriate where historical debts are causing financial trouble but the core business is profitable based on its month by month trading.
- Business Refinancing. There are a number of alternatives to traditional bank loans and overdrafts that may be suitable for you.
As always, the key to resolving corporate financial problems is to act and act quickly. If you feel that your business is suffering financial difficulty, the best thing to do is take advice and develop a plan of action as quickly as possible before things get worse.
