If a company is in financial difficulty then Administration may be the route to save all or part of the trading entity.
Whilst Administration can be instigated by Directors and Shareholders it is often at the request of a debenture holder, usually a bank. This is an involved process that requires good communication between interested parties. That is a skill we can provide.
Primarily, we’ll see if the business can be turned around with some restructuring. If that’s not an option, we’ll try to sell the business as a whole and keep it running with new owners.
If we can’t achieve either of these aims, then we’ll sell the business assets and distribute the proceeds in accordance with Insolvency legislation.
The latest statistics for insolvencies in England and Wales covering the last quarter for 2017 reflect a difficult year for companies and individuals. The Association of Business Recovery Professionals, R3, have highlighted a number of trends in the latest insolvency figures from the government. Corporate Insolvencies Corporate insolvencies rose by 2.5% to 15,112 in 2017 […]
The Financial Conduct Authority (FCA) is considering a clampdown on companies that provide high-cost credit to consumers. This could include imposing a cap on interest rates charged. Such a move would be a follow up to the FCA’s 2015 clampdown on the high interest rates charged by so-called “payday” loan companies. It is understood that […]