How can we help?
We can spot the warning signs when you might be too close to see the dangers.
Early intervention nearly always leads to more options and better outcomes. If action is taken early there is often a good chance of a successful business turnaround. However, once decline has set in the chances of success become more remote and formal insolvency ends up being the only option.
We see many business owners who have had their heads in the sand for months or even years. We understand why! Facing up to the situation can be harsh, painful and involve difficult decisions. But the sooner it is done the better outcome there is likely to be.
We help directors and business owners of SME and family run businesses throughout East Anglia and London who are in this situation all the time – our expertise and sympathetic approach means that you don’t need to face financial problems alone.
Our services include:
- Free advice line.
- We refer preparation of management accounts, financial forecasts and tax work when we can.
- We can help raise finance from lenders that specialise in distressed business lending.
- Most of all we work tirelessly to give you client the best advice for their specific circumstances.
Not all insolvency practitioners are equal. Choose your insolvency practitioner carefully so you can be sure that no stones are left unturned to avoid an insolvency altogether.
Director
Norwich office contact details:
- 01603 877851
- 07944 433026
- hayleywatson@mw-w.com
- Prospect House, Rouen Road, Norwich, NR1 1RE
Cambridge office contact details:
- 01223 903020
- Nine Hills Road, Cambridge, CB2 1GE
Understand your financial options
Check the health of your business with our free business health check tool.
Get an indication as to whether your company has what it needs to survive.
Includes:
-Company health assessment
-Types of liquidation available
-Options & next steps
*All information provided is completely confidential and will not be shared with a third party
Free advice line for distressed company directors > 08003317417
Go ahead but keep under review
- You are not losing money and do not need any credit.
- You can’t pay creditors in accordance with normal terms but they continue to provide credit and services subject to interest charges and late payment penalties.
- You can pay current tax but you have tax arrears. You have agreed a schedule with the HM Revenue & Customs to pay off those arrears.
- You have to increase your overdraft facility to take out a new loan in order to pay your creditors near enough on time.
Proceed with extreme caution
- You can’t pay creditors within agreed terms. They have put you on stop but have agreed to give you longer to make proposals to pay.
- You can only get limited credit from new sources and you are using this to fend off your existing creditors.
- You can’t accept new orders because you can’t purchase raw materials or pay for the overtime required to fulfil them.
- Your bank has decided to claw back your overdraft facility and you are missing payments to non-essential creditors. Your bank wants you to agree to an independent business review.
- Creditors are threatening legal action.
Stop & seek advice immediately
- You are on stop with key suppliers, cannot raise working capital to fund your order book and turnover has dropped to below break even point.
- Your income will not meet your outgoings once interests and penalties are taken into account.
- County court claims, CCJs and statutory demands regularly land on your doormat
- You are having sleepless nights and are on medication to steady your nerves.
- You have received notice of a winding up petition.
How can we help - Book a free 1-2-1
If your company is struggling with unmanageable debts, decreased cashflow or concerns about about your company’s future, we can assess your situation and provide you with tailored solutions and options.
During your free initial advice meeting, we will discover a true picture of your company’s financial situation
and offer practical and expert guidance on your next steps.
Initial meetings can be held at our office or your premises and are completely confidential.
There is no charge for this meeting – charges only apply if and when terms of engagement have been agreed.
Related services
BUSINESS RESCUE & INSOLVENCY SPECIALISTS
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