Business rescue experts. Specialist guidance for your business
Business rescue is a positive solution to insolvency. It involves looking in detail at your business’ challenges and finding the best path forwards. Together with a licensed insolvency practitioner and business rescue expert, you’ll decide on one of a number of legal tools to save your business. The most common of these solutions are explained on this page.
Every business rescue process must be overseen by a licensed insolvency practitioner, by law. The solution we recommend and put in place for your company will depend on your unique situation.
If you need advice urgently or simply want to talk about the options available to you, our licensed insolvency practitioners and business rescue experts are ready to help.
Call us on 0800 054 6590 or request a call back
When can business rescue be used?
Financial challenges are faced by most company directors and business owners at some point. Often these difficulties are short term. If you’re struggling to keep up with your business debts on a monthly basis, it might be that you’re technically insolvent. This is when seeking expert professional help for business rescue can help.
Even if the situation seems beyond hope, our practitioners are here to show you how using a business rescue solution could recover your business.
Using Company Voluntary Arrangement for business rescue
A Company Voluntary Arrangement (CVA) is a formal, legal agreement between you and your creditors that allows you to repay your debts in manageable instalments, over a set period of time. It also forms a barrier between you and your creditors – they can’t take any legal action against you while you’re still meeting the terms of your CVA.
As part of this business rescue process, we’ll work with you to discover what’s causing your financial difficulties and help you fix the issue, so that you can get back into a profitable position. Once we’ve established a realistic business plan and worked out how much you can afford to pay back, we’ll take the pressure off you by handling the negotiations with your creditors.
You can find out more about our CVA service here
Company administration
‘Going into administration’ is a term you may have heard in the media, when a big company is in financial difficulties. In reality, it’s a business rescue solution that works for every company, whatever the size.
As with a CVA, a company administration is a legal tool that creates a barrier between you and your creditors. It gives you valuable breathing space to work out your business issues and create a plan to solve them. The difference is that once you’re in administration, the company will be controlled by a licensed insolvency practitioner, who will be the expert that oversees the administration process.
The ultimate goal of a company administration is for the administrator to rescue the business. They do this by working out a way to release funds from the company to pay all or some of its debts, so that its business can continue.
You can find out more about our company administration services here
Start Afresh Liquidation
Liquidation is commonly used as a business closure solution, not a business rescue option. But our Start Afresh Liquidation is different. After going through the liquidation process, we create a new company under which your business can continue.
You can keep your company name, directors and shareholders, and trade as usual – free of the debt that might have been holding you back before. There are strict legal guidelines governing Start Afresh Liquidation, which you can find out more about here. It’s vital that you work with an expert, reputable licensed insolvency practitioner when exploring this option.
If your company is facing financial difficulties but you have a viable business, business rescue could be the right path for you – if you want to continue trading in the future. As licensed insolvency practitioners, we can give you expert advice on your current challenges and could help you recover your financial position using a business rescue solution.
Call us on 0800 054 6590 or request a call back
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