We come across many struggling or failed businesses and talk to many business owners. So we think we are well placed to give a few tips on this subject. They’re not meant to be exhaustive and can be summarised by saying that any business owner…
FAILURE TO PREPARE? PREPARE TO FAIL! A Marathon challenge. Tim and James Corfield along with James’ girlfriend, Emily, take on the Chicago Marathon, next Sunday. A daunting task to say the least, especially after the preparation and hard work over many months. There’s a direct…
Acute Cashflow Problem Companies On The Increase! According to R3, the insolvency trade body for Insolvency Professionals, around 134,000 businesses are trading whilst insolvent – this is an increase of 24,000 in the last year! These are companies that are struggling to pay their debts…
What is a Pre-pack Administration? How can this help you? A Pre-pack Administration or pre-pack is a procedure to deal with the closure of your company if the company is insolvent – in other words, there are not enough company assets which can be sold…
An Administration is a procedure to deal with the closure of your company if the company is insolvent – in other words, there are not enough company assets which can be sold or realised, to pay off all the debts of the company. An Administration…
Company Voluntary Arrangements – could we make more use of them? In the present bank lending climate most banks are reluctant to lend to any company with a hint of balance sheet weakness. Could a Company Voluntary Arrangement (CVA) be used as an alternative cost-effective…