After months of poor performance and adverse trading conditions a winding up petition can often seem like an indicator that a company’s lifespan is coming to an end. Although many directors have seen their business flourish in times of hardship, few truly understand not only the full implications of such a situation, but also the choices that still remain available to them.
By furnishing yourself with all the information about your current financial situation and business turnaround instruments, you can decide what’s best for your company and its workforce’s finances and future. Even if you believe your position is insurmountable you may be surprised to find out there are options available.
By acting quickly you retain full access to the spectrum of insolvency solutions available to you. The only mistake would be to ignore the situation and not ask for help. Talk to McTear Williams & Wood and we can advise on company voluntary arrangements, pre-pack administrations and even liquidating your own company without being overseen by the courts.
How it works
Work with the main creditor - by communicating with the petitioning creditor, either directly or by feeding you the lines we can start to move the matter towards an effective resolution.
Find you more time - our team can adjourn your Court hearing, giving you valuable space to carry out the vital negotiations, free from the negative impact of a court judgement.
Demonstrate that your business is still viable - if we think there is enough cause, we can create a case for the court showing that there is a definite pathway for you to return to profitability.
Secure a validation order - if you wish to continue trading, let McTear Williams & Wood help you obtain a validation order from the Court.
Access a lifetime’s worth of expert advice and legal knowledge through the high levels of service you’ll find at McTear Williams and Wood.
Get in touch with one of our experts to discuss a potential company voluntary arrangement at our Bedford offices and find out the difference we could make to your business today.