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The hospitality sector can be very hit and miss in terms of financial consitency, as such it is very easy to go from profit to loss in a short space of time.
Should your business start to decline there are several questions to ask, the key ones being; a) is it a temporary dip?, b) do you have the resource to trade out of difficulty?, c) is the business module adaptable?.
If the answers to any of the above are no then you may need to act before the situation becomes unmanageable, we can assist restructure your business module and negotiate with your creditors to buy you time to recover.
At the point when formal Insolvency is unavoidable we can manage you through the procedure to guarantee matters are managed appropriately, 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