When difficulties meeting your financial obligations combine with cash flow problems and bad debt it is often calamitous for your business. If credit facilities are no longer available and funds run out what is your next move as a company director?
One option you may not be aware of is a company pre-pack administration. Granting you the ability to shed your business debt and re-start as a new financial entity, many businesses have used such a process to return to profitability with a fresh start.
During our time operating as an insolvency practice, McTear Williams & Wood has helped numerous companies navigate pre-pack administrations, performing the transition into a new business whilst only creating a minimum impact to customer service and trade.
If you are considering closing down your business with a CVL or a strike off, be sure that you have checked out all the options, as you may have other routes out of your distress. In one simple pre pack administration meeting at our Colchester offices, we will be able to give you all the information you need to make the best choice for your business.
There is only a limited time window for your business to implement a pre-pack administration. The sooner you act, the more options are available to you as alternatives and the greater the chance is that this chosen pathway will be successful.
Call McTear Williams & Wood today to find out if a pre-pack administration will fulfil your business needs. We will set up an appointment at our offices near Colchester and in a short consultation period talk you through all the implications of this course of action. To set up your appointment please call us on 0800 331 7417