The key to avoiding insolvency is to seek professional help as soon as the first signs of difficulty appear. The experienced professionals at Paul Martin Chartered Accountant Ltd can assist in identifying problem areas and suggest solutions to improve the position of your company. Timely, expert advice can save your business from liquidation or receivership.
Receivership entails someone being appointed to raise funds within the company to repay a financier. Liquidation becomes necessary when so many of the company assets are sold that it cannot continue its daily business. A liquidator disposes of all the company assets, repays the creditors, and the company ceases to exist.
If your business is struggling under financial and operational difficulties, proactive and insightful action is vital to avoid or at least minimise the ramifications. Contact us today for an appointment and expert advice and assistance with your situation.