The car industry can experience a huge decline when the economy is under pressure consumers spend less, rents and rates can increase meaning a once profitable business falls insolvent.
If you start to struggle you need to act quickly to have the business module assessed for viability, there is lots of support and help accessible to Sole Traders and Limited Companies and their Directors. The key is not to bury your head in the sand but to act decisively this is where we can assist.
We can advise on your options going through the potential outcomes of each solution availble, attempting to keep away from a formal indebtedness strategy where conceivable.
At the point when formal indebtedness is unavoidable we can control you through the procedure to guarantee matters are managed legitimately, limiting the dangers to Directors.
Available solutions we can advise on are:
- Pre Pack Administration
- Company Voluntary Arrangements (CVA)
- Informal Arrangements
- Individual Voluntary Arrangements (IVA)
- Debt Relief Orders