Most businesses experience periods of difficulty and distress at some point during their operations. More often than not the culprit is cashflow, with the demands of creditors including HMRC impacting heavily at a time when you may be suffering from bad debt or changes within the industry or marketplace that requires the business to evolve rather than sell.
If this describes your situation then help may be closer than you think. By implementing a company voluntary arrangement you will be able to consolidate all your debt into a single amount, which can then be broken down into more management monthly repayments.
You will need a full registered insolvency practitioner to set up your company voluntary arrangement, to provide you with full support on meeting the necessary accounting requirements and to communicate with your creditors on the company's behalf.
Access a lifetime's worth of expert advice and knowledge by discussing a potential company voluntary arrangement at our Cambridge offices. Here you will be able to talk to one of our expert advisors who will be able to fill you in on the best way forward for your business.
Time is critical with a company voluntary arrangement. Whilst there is still liquidity left in your business it is easier to put such an agreement in place, however if the situation is allowed to deteriorate then it may be the case that this option is no longer available to you.
Act now to achieve the best result for your business turnaround. Visit McTear Williams & Wood at our Cambridge office to discuss a company voluntary arrangement today. Call us now to set up your appointment on 0800 331 7417