The key to preventing business failure is to have the right controls in place to help identify areas of poor performance or early signs of distress in a business and to take appropriate remedial action if and when such signs appear.
Even where a business is in a relatively advanced state of distress, we still regard insolvency as a last resort and prefer to explore all possibilities of restructuring the business and setting it on a path to full recovery. Often this will involve refocusing on core business activities, introducing stringent cost controls, and setting clear profitability goals.
This approach, we believe, is in the best interests of all the stakeholders - shareholders, directors, managers, employees, customers, and suppliers.
If all else fails and the business has to go into administration, receivership, or insolvency, we can advise and assist with this process and guide you through the financial, legal and regulatory implications of such a course of action.
Contact us today to discuss how we can help keep your business in good shape.