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SELL BUSINESS FAST OR GET BUSINESS RESCUE
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Reach out to us and we will go through our initial fact find about your position.
We will draw up and assess your business and follow up with the best solution that will help you move forward.
Help & Support
We will ensure the solution runs smoothly and support you all the way.
Business Solutions – How we can help
We will explain all possible solutions, providing clear and constructive recommendations and ensuring that all options are explored before agreeing a course of action. Outlined below are a range of the solutions offered.
If we buy your business and assets there will be no agent fees and no legal fees.
An Administrator has the power to trade, manage and sell the business as a going concern in order to maximize the return to creditors. An Administration Order provides the company with immediate protection and all action from creditors is halted so a rescue plan can be formulated.
- Administration offers full legal protection from all creditors whilst a strategy is formulated in respect of the future of the company.
- Gives directors or third parties an opportunity to buy back the business as a going concern.
- Offers vital breathing space whilst a business recovery or restructuring package is implemented.
The liabilities remain with the company and only the assets are sold resulting in an attractive ‘package’ for sale.
- Pre-pack administration can result in a quick and relatively smooth transfer of a business.
- Pre-packs can protect the goodwill of the company as they have a minimal impact on customer confidence that any insolvency proceedings inevitably cause.
- Pre-packs can save more jobs than in a normal administration.
- The process is relatively quick compared to normal administration, therefore the costs of the administration process may be reduced, resulting in a better return for creditors
A Liquidator is appointed and has the responsibility of collecting the company’s assets and distributing them to its creditors in accordance with the law.
- Allows you to step away from the insolvent company with no further liability (unless debts have been personally guaranteed).
- A very quick, cost effective way of formally closing down a company and complying with your duties as a director.
- Can be funded using company assets such as cash at bank, sale of assets, book debts etc.
- It shows creditors you have done the right thing by taking professional advice and can steer you away from the implications of wrongful trading.
- Employees and potentially directors can make a claim from the National Insurance Fund and receive payments for outstanding wages, holiday pay, pay in lieu of notice and redundancy.
A CVA allows a director to retain control of the company and continue to trade without the burden of historical debts that can be a significant drain on cashflow. It is usual in these circumstances for creditors to accept a percentage payment of their debt over a five year period.
- Can quickly improve company cashflow.
- Stops pressure from creditors including HM Revenue & Customs and covers all tax arrears.
- Can be implemented quickly even if a winding up petition has been issued.
- Not advertised locally or in the Gazette.
- Directors and shareholders retain supervised control of the company.
- No requirement to report to the Insolvency Service on the conduct of directors.
- Significantly lower costs than Administration or Compulsory Liquidation.
We will carry out a full assessment of a business, identifying both the strengths and potential weakness of the company and highlighting areas of change or improvement. Working closely with management to develop a realistic and achievable business turnaround plan.