The key to avoiding company or personal insolvency is to seek professional help as soon as the first signs of difficulty appear. Unmanageable debt is the most common reason for companies going into liquidation but it is not the only reason.
Whilst this part of our web site is dedicated to company issues we have successfully helped a number of individuals who have faced potential bankruptcy. If you are in this position then email us now.
Early identification of problem areas, identifying solutions and implementing those solutions and confirming those solutions are delivering can help to avoid a receivership or liquidation scenario becoming a reality.
Although debt in itself isn't necessarily a bad thing for a business, it shouldn’t be allowed to get out of control. Managing debt is often simply a matter of managing your own debtors better, by, for example, ensuring you bill out on time and take prompt follow-up action with slow payers.
If you think debt is becoming an issue for you, your first step is to consider our accounting and solvency services which can help keep you on track while you trade out of trouble.
The good news is the cost maybe not as much as you think and it is quite likely to be significantly less than if you continue to trade, keeping your head in the sand or praying that the next sales deal will solve your problems – These actions will not work and life could get a lot more complex and stressful for you if you ignore the problems. It is important to act promptly.
That’s were Norrie & Daughters can help you. Timely, expert advice can save your business from liquidation or receivership and can save you from potential bankruptcy.
We can also act as receiver or liquidator to your company.
Liquidation occurs through a number of methods which results in the appointment of a liquidator who takes over the running of the company. A liquidator disposes of all the company assets, repays the creditors, and the company ceases to exist.
Norrie & Daughters services include:
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