When a company is suffering from severe financial distress, the outlook can seem very bleak. If a major contract has fallen through or if a large supplier has folded, it can feel like the business is no longer capable of generating wealth. Until all the options have been explored, it is unwise to succumb to too pessimistic an outlook. If the right kind of advice and assistance is obtained, the future might not be as dark as it can seem.
At Cooper Matthews we know that various options can give embattled company directors a new chance. Furthermore, many directors who have had failing firms have gone on to prosperous futures, sometimes with businesses very similar to those which hit trouble. Nor is there anything illegal or ethically questionable about processes like phoenixing and pre packing. If these processes are carried out properly it is quite possible for the new enterprises to develop healthy cash flow.
It might seem a little odd to think about success when a business is in considerable difficulty, but the right attitude can really pay off. It is understandable to adopt fatalistic views when one is receiving bad news or urgent demands to pay that cannot be met. Nonetheless, if the goal of eventual success is forgotten it only makes the work which needs doing more arduous and uncomfortable.
It does make it slightly easier to think that many others are unfortunate enough to currently be in similar circumstances. Furthermore, the fact that many highly successful individuals and companies have been through this trying phase can provide genuine motivation.
business debt, phoenixing, pre packing