“Whenever you see a successful business, someone once made a courageous decision.”
– Peter Drucker – Writer and management consultant
Running a business isn’t always easy – in fact, it can be difficult, time consuming, expensive and exhausting, especially when things don’t go according to plan. If your business starts to struggle, it can be difficult to know where to turn for advice. You may have heard of business rescue and business recovery but you may not know exactly what these terms mean.
What are the options for dealing with an under-performing business, weighed down by debt and unpaid bills?
Don’t worry. We can help.
Business recovery means putting in place a recovery plan to help the business to return to health. This can entail the use of a formal insolvency procedure or an informal plan to address the current problems and to reach a solution that saves the business.
Business rescue usually refers to more serious situations, perhaps where creditors (often HMRC) are taking legal action against a company and are threatening to send in bailiffs or to issue a winding up petition. In these situations, the emphasis is on rescuing the business as a going concern, or saving at least part of the business in order to save jobs and preserve the business.
Moorhead Savage is an award-winning Rotherham-based firm of business recovery and business rescue experts. We are able to help with all aspects of business recovery and business rescue, from initial advice through to planning and implementation of the recovery or rescue package. We offer impartial and confidential advice, with a no-obligation first meeting to explore all the options.