Taking the right advice at the right time is the first step to keeping a business alive and, dependent on the situation, there are insolvency procedures that could still allow a business to trade even if it is burdened with debt.
Regardless of how bad things might appear, there are always alternatives courses of action. Although there are difficult decisions to overcome in any restructuring exercise, knowing exactly what is involved in each process is key to making the right decisions for a business going forward.
That is where we come in. We have a range of informal and formal insolvency & restructuring tools at our disposal. We can help business owners take the best decisions possible, using our experience and expertise to match the most appropriate tool with the current financial profile of the business.
Pre Insolvency options:
If the company or group of companies is solvent there are still a number of reasons why a restructure of the balance sheet could be advantageous for the shareholders, such as:
We are also fortunate to have specialist tax advisors in house who are experienced in the taxation aspects of restructuring a balance sheet so you can benefit from the skill sets of a multi discipline team advising you under one roof.
And if the financial position of the business is beyond recovery, then we have the expertise to assist you to formally wind up the business.
You will receive access to expert advice and only deal with senior qualified licensed insolvency practitioners, offering a client focused service with confidentiality absolutely guaranteed.
Formal Insolvency options:
The formal insolvency options, set out below, can only be implemented under the guidance of a licensed insolvency practitioner and we have 2 fully licensed insolvency practitioners in house.
Our Initial Consultation is Free of Charge. Please call 028 9044 5100 and speak to Joan Rice or Barry O’Donnell.
Read our article from Ulster Business Magazine, Jan 2021 - Recovery, what you can do to help your business here
Early Warning Signs for Vunerable Businesses - Find out what to look out for here
An Outline of Key Insolvency Procedures for Businesses - Read here
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