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Insolvency Practitioners in Manchester

If your company is running out of cash and can’t afford to pay its creditors, it might be insolvent. Insolvency can creep up on companies over time, with a small financial issue eventually developing over time into something that threatens your company.

If your company is insolvent or you’re concerned about its financial direction, you have a variety of options. Our insolvency practitioners in Manchester can provide detailed, helpful advice in order to facilitate a recovery of your company.

  • Is your company insolvent?

     

    A wide range of companies, from small businesses to large corporations, can become insolvent. There are two ways for a company to become insolvent: it could lack cash to pay its creditors on time, or its liabilities could exceed the total value of its assets.

     

    The first form of insolvency is called cash flow insolvency, while the second is called balance sheet insolvency. Both forms of insolvency require immediate action to stop your business from becoming wound up by its creditors.

     

    We’re here to help you and your business

     

    Our team of Manchester insolvency practitioners has helped many companies and individuals make a full financial recovery. If you believe your business is insolvent or you’re concerned about its finances, we’re here to help you.

     

    If your business is currently insolvent, we can provide advice on the options that are available to you, from company liquidation to alternatives such as administration or a Company Voluntary Arrangement (CVA).

     

    We have 13 offices around the UK, making us one of the country’s most trusted and effective financial advisories. Our detailed and action-focused advice can give your business the direction it needs to move forward, stabilise and recover.

     

    Administration

     

    Many businesses have the potential to be profitable and stable but are caught up in short-term financial issues. If your company is experiencing a cash crisis that could force it into liquidation, administration could be a powerful alternative option.

     

    When your company enters into administration, an insolvency practitioner becomes its administrator. Our Manchester insolvency practitioners can analyse the financial situation your company is in and move it towards recovery and continued trading.

     

    Company Voluntary Arrangement (CVA)

     

    Does your company have significant debts that are affecting its cash flow and ability to continue trading? By proposing a Company Voluntary Arrangement (CVA) to your company’s creditors, you could negotiate a longer period to pay your debts.

     

    A Company Voluntary Arrangement can also result in a percentage of your debts to creditors being written off, provided creditors agree. This can result in an improved level of cash flow, giving your business the conditions it needs to recover.

     

    Liquidation

     

    Also known as “winding up”, liquidation is a process that involves your company’s assets being auctioned off in order to repay creditors. Liquidation results in the end of your company, making it a solution for companies that are no longer viable.

     

    In order to initiate the liquidation process, your company’s creditors need to agree to a Creditors Voluntary Liquidation (CVL). A liquidator will be appointed to manage the sale of your company’s assets and the payment of its creditors.

     

    Contact us today

     

    Navigating a difficult financial situation alone can be stressful and difficult. Our team of insolvency practitioners in Manchester has helped many other businesses recover from financial setbacks. Contact us today for detailed advice and assistance.