Our core business revolves around many years of combined business recovery and turnaround experience. This ensures we offer impartial help and advice to the directors of struggling businesses. We take pride in the services on offer to our clients. They enable directors, sole traders and partnerships alike to tackle their financial difficulties in a head-on, proactivefashion.
Sometimes a director or business owner can be too close to a problem to see it objectively. Therefore, if the business encounters financial difficulty – perhaps due to a drop in sales or bad debt having a negative effect on cash flow – it’s not always obvious the company needs urgent help. In such instances, failing to quickly take action can often result in the position of the business deteriorating beyond repair.
Many directors attempt to salvage the situation by injecting personal money into the business. Without identifying and tacking the underlying cause, this is simply “throwing good money after bad”. This will make little difference to the ailing company. Also, it could have negative consequences on the director’s personal finances.
Financial Consultancy Group employs staff with a wealth of experience and take an objective view of the business.
We will identify its problems and help formulate a survival strategy for the business. Through our appointment of licensed insolvency practitioners, we will oversee and implement a range ofinsolvency proceedings as well as provide market leading advice and guidance. For instance, a company may become encumbered with debts but can afford to make repayments to creditors with careful management. In this case, you can appoint Financial Consultancy Group to oversee a Company Voluntary Arrangement (CVA) or arrange a Time to Pay Arrangement (TTP) with the taxauthorities. However, if a company is burdened with debt and directors wish to close down to pursue other opportunities, we are fully qualified to liquidate the company.
All our insolvency practitioners are regulated and licensed to provide corporate and personal insolvency services by The Institute of Chartered Accountants in England and Wales (ICAEW) http://www.icaew.com
Does your company find itself in a position of insolvency and wanting protection from creditor pressure? Then please get in touch to see how we can protect and formulate a strategy for your company. In some cases, we may be able to save the business through an administration or pre-pack administration.
- General merchandise
- General online auctions
- Intellectual property
- Milestone transactions – such as services provided whereby payments are disbursed at agreed milestone intervals
Even in specific states in the United States, such as Florida, it is normal for a purchaser to pay a goodwill deposit prior to making a formal offer in the form of a purchase contract.