Sometimes business grow and boom and other times business have to face that ultimate dreaded day when the profits just aren’t high enough and the debts keeping piling up. A company becomes insolvent when it can not pay its debts, bills are overdue and the balance sheet shows more liabilities than assets.
If you are in this position then your business may be at risk of liquidation. One or more of your creditors may take legal action in order to recover their due payments or the bank could be pressuring you to pay back your overdrafts.
When your business has reached this point it is best to turn to professional advice. Our team has experts on business recovery and insolvency who will give you solid advice on what to do next and how to make the best of a bad situation. Liquidation is always the last resort of the company, before that we will help you explore other options to recover from this state.
What can be done?
Our business recovery and insolvency services will help you explore every available option for your business before it absolutely must be liquidated.