Dealing with company insolvency
If a company is running out of money and unable to pay its debts, it is important that the directors take swift action to limit the losses to creditors. Taking professional advice early is essential to ensure that directors avoid the pitfalls which they face.
There are a number of formal procedures that can be initiated by creditors, directors and/or shareholders. In recent years, the rescue and recovery of a business has become increasingly important – but finding the right procedure for each individual circumstance requires timely advice from an insolvency practitioner.
The main options available are:
In addition, one of the ways to close down a solvent business and share out the assets requires the involvement of a licensed Insolvency Practitioner. Click the link below for more information:
If you would like further information on company insolvency or would like to discuss your options please call 01709 331300.