If you have a company cash flow problem, then it is time to call in the experts. For many, all is not lost and it is not too late to save or rebuild your business. Cooper Matthews can help you with your business refinancing and restructure in a number of ways. For others, sadly, it may be the end of the line and Cooper Matthews can also help you to face this.
Compulsory liquidation, also known as winding up, can be instigated by your creditors when you owe more than £750. Winding up petitions are now used more and more frequently when business debt is outstanding and needs to be paid. Obviously, this isn’t a very pleasant process and the consequences for your business are serious.
You must make sure that you act within 7 days of receiving the winding up petition by contacting a licensed Insolvency Practitioner. Cooper Matthews are based in Leeds, but we work with local Insolvency Practitioners across the UK, so wherever you are we should be able to help.
Although they are serious, a winding up petition needn’t be the end of the road and we can discuss alternative solutions with you to manage your business debt and get your company out of the black hole. One option could be to start a Voluntary Liquidation yourself, which will give you more control over the rest of the process. In all cases, it is essential to contact an Insolvency Practitioner like Cooper Matthews to get some business debt advice as soon as possible.