There are many reasons why a business can suffer from cashflow problems. From external events that disrupt the market through to customer insolvencies, you never quite know where difficulty might strike. And when it does, managerial capacity is often absorbed in attempts to manage and service the debt.
Fortunately, there is a measure available for businesses suffering from distress. It’s called a company voluntary arrangement and allows you to restructure your debt into one single payment, giving you the space to meet your creditors demands, and focus on what you do best, making money.
This arrangement must be implemented by officially recognised insolvency practitioners, who negotiate with your creditors to find an acceptable arrangement for all parties whilst structuring a schedule of repayments.
Want to know if your debt can be managed in this way? Find out more with an appointment to discuss your company voluntary arrangement at our Milton Keynes offices. Speak to one of our insolvency experts who will fill you in on all the options available to you whilst reviewing your current situation.
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