Poor cashflow can seriously impact a business's ability to function properly. If all the resources are engaged with servicing a debt, including your won valuable time as a director at the helm, then achieving a full return to profitability can be a considerable challenge with no support.
To help free you from debt and give you space to refocus your efforts and determination on the business, it is possible to restructure all your debt using a company voluntary arrangement. This allows you to consolidate all your debt and then service the outstanding amount with monthly repayments.
In order to implement a company voluntary arrangement you will need to work with a registered insolvency practitioner to help put your accounts in the required structure to present to your creditors, who will need to consent to the terms of the agreement.
Thinking of taking this course of action? Find out more about a company voluntary arrangement at our offices in East Anglia where you'll be able to talk to one of our expert advisors about all the options available to both you and 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 one of our offices in East Anglia to discuss a company voluntary arrangement today. Call us now to set up your appointment on 0800 331 7417