ONLINE BUSINESS
Innovation swings and shopper taste can cause issues for what is now a quick changing online marketplace, exposed to quick highs and lows, which can turn profiatble businesses insolvent in a short space of time.
In the midst of trouble there are plenty of options accessible to Sole Traders and Limited Companies and their Directors. The key is to look at the business model for flaws and potential improvements.
We can advise on the options available to you, attempting to avoid formal insolvency where conceivable.
At the point when formal insolvency is inescapable we can guide you through the procedure to guarantee matters are managed appropriately, limiting the dangers to Directors.
Available solutions we can advise on are:
- Liquidation
- Pre Pack Administration
- Administration
- Company Voluntary Arrangements (CVA)
- Receivership
- Informal Arrangements
- Individual Voluntary Arrangements (IVA)
- Bankruptcy
- Debt Relief Orders
Advantages of entering into a CVA
You stay in control of your company, even while it’s in a CVA
Pressure from creditors and HMRC ends while you prepare a CVA
Entering into a CVA can improve your company’s cash flow
While in a CVA, your company is protected from creditor legal action
In many cases, a CVA is the best option for avoiding liquidation
Entering into a CVA is far less public than other options
In a CVA, your company can make important restructuring changes
Both your company and its creditors benefit from a CVA
Disadvantages of entering into a CVA
Entering into a CVA can affect your company’s access to credit
If you break the terms of a CVA, your company could be liquidated
At least 75% of creditors need to approve your CVA proposal
A CVA is not a short-term solution and can take several years to complete
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We are business recovery professionals and will help solve your problems.