If your business is under pressure from creditors including HMRC for outstanding invoices or unpaid VAT, PAYE or corporation tax bills it can be hard to know what to do next. Understandably no one wants to broadcast problems and potential failures, but what options do you have that could help you achieve a serious recovery?
One possible insolvency measure to revive your company is a pre-pack administration. It allows you to liquidate your existing company whilst selling off all the business to satisfy the demands of your creditors. You are permitted to purchase key assets as a third party individual and relaunch the business as a new entity.
Many businesses have gone through this process leading to the preservation of customer relationships, revenue streams and saving jobs vital to your local economy.
McTear Williams & Wood has a history of helping several companies successfully complete pre-pack administrations and have a complete understanding of how to navigate the process with as few difficulties and delays as possible.
How it works
Dedicated insolvency practitioners - allowing us to give you the full benefit of our experience working with businesses like your - helping you avoid all the potential pitfalls and difficulties in the process.
Confidential expert advice - any advice we provide you is completely confidential in line with the highest professional standards set by our industry. Additionally we are able to meet you outside of your busy business days.
Free consultation session - our first consultation session is always free of charge and this often gives you access to our best advice and our ideas for your business’s next step.
Effective turnaround support - if you are unsure as to whether your business might be salvageable, McTear Williams & Wood is able to provide you with all the services to turn your business around.
Want to find out if this move is right for your business?
Get in contact with one of our senior advisors to discuss a potential pre-pack administration at our Southampton offices and get a clear picture of all the options available to you.