Very few companies reach the 5-year waypoint without encountering some tough times. Even if you win a massive contract, getting the first payment can be another issue entirely – and at these times your ability to work as a director could be compromised by the workload of handling creditors, suppliers and finance companies.
Did you know there is another way? There is a measure that allows you to restructure all your company’s debt into one single sum, which can then be serviced by monthly payments. It’s called a company voluntary arrangement and it could be exactly what you need to help get your operations back on track.
The arrangement must be correctly set up by official insolvency practitioners, who have the skills and ability to negotiate with your creditors and draw up an acceptable plan for repayments that meets the expectations of both sides.
Want to know more? Find out about a company voluntary arrangement at our Guildford offices where you can ask any questions you may have, enabling you to develop a clear picture of all the options available to 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 our Guildford office to discuss a company voluntary arrangement today. Call us now to set up your appointment on 0800 331 7417