Sometimes, there is only one solution for a failing business - a dignified and orderly complete cessation of trade
If the hole is getting bigger, STOP DIGGING! But, if there is a core business that is profitable, or potentially profitable we will support in business recovery and assist you make the decisions that can turn your company around.
This may, or may not involve a formal insolvency procedure. Trust us to use our skills and expertise and work with you to tailor a plan that is right for you and your business.
Griffin and King is an industry leader in business recovery, helping businesses deal with financial distress and achieve financial stability. We give expert advice on business liquidity, providing practical, impartial help to company directors and business owners.
Business Recovery is a term covering the range of legal mechanisms and approaches that can facilitate the turnaround of a business facing severe financial difficulties.
Rescue recovery includes procedures such as restructuring, negotiating repayment plans with creditors and protection from legal threats while the company gets back on track.
How Griffin & King can help
Sole Traders / Partnerships
Individual voluntary arrangements, or IVAs, are an alternative solution to bankruptcy. It may be possible to continue your business, depending upon your individual circumstances. We would look at this carefully with you.
A PVA is a procedure whereby a partnership can continue to trade even though it is insolvent – in other words, the partnership cannot meet its ongoing liabilities from the cashflow that is being generated from the business.
A business partnership is a legal relationship that is generally formed by a written agreement between two or more individuals or companies. The partners invest their money in the business, and each partner benefits from the profits and sustains part of any losses.
Bankruptcy is a form of insolvency that writes off debts if you can’t afford to repay them. It is a legal process that’s suitable only if you are unable to settle your debts.
In many cases, the involvement of an external adviser who can stand back and identify where improvements are needed is exactly what is needed to turn a business around. We have worked with hundreds of businesses going through financial trauma, but most continue to be successful, despite their challenges. At Griffin and King, we have the flexibility to offer tailored and impartial solutions for our business partners and clients.
Our business recovery specialists can support companies of all sizes on aspects of trading and cash management in a challenging environment and marketplace.
Working alongside you we can guide you through the legalities and commercial practicalities of business decisions with the sole objective being to help the business adopt more effective best practices and grow at a healthy and achievable rate. If a business experiences financial problems we are best placed to help, ensure survival and recovery.
We work with sole traders, partnerships, LLP’s, and limited companies through all phases of a business lifecycle.
Griffin & King are
Experts in Business
Our dynamic team of business recovery specialists has a wealth of expertise and sector experience to draw upon, to help address your financial situation. We will provide you with clarity on the best options available to you and work with you to meet your financial objectives.