It is a fact of life that some businesses thrive and prosper while others stumble and fail, often falling victim to increased competition, changes in legislation, a loss of market or bad debts.
At all stages of the economic cycle companies, businesses and individuals will invariably face difficulties and issues for which specialist advice should be sought. The key to success in times of trouble is to seek professional advice sooner rather than later as this can increase the options available.
At Hart Shaw Business Recovery & Insolvency, we are used to helping people and companies deal with a wide variety of financial problems. Whether you are an individual who is overextended with consumer credit or are the director of a company facing closure, we can help you resolve your difficulties. Over the years we have helped hundreds of individuals and companies resolve their problems and in doing so have developed a wealth of experience, knowledge and skill.
Hart Shaw Business Recovery & Insolvency will work closely with you to offer independent advice and develop a practical solution to your business problems – be it a formal insolvency procedure or informal restructuring.
The Hart Shaw Business Recovery and Insolvency Team have been helping limited companies, businesses and individuals to recover from their financial problems for more than 20 years. Our partner-led approach ensures that you will be working with a specialist who has seen most problems before.
The options available to you will depend on the legal status of the business and whether it is incorporated.
When a Limited company becomes insolvent, which is defined as being “unable to pay its debts as and when they fall due” or where “its assets are worth less than its liabilities” its directors have a duty to act in the interests of creditors. As a general rule the debts of the company remain with the company and its directors are not personally liable.
Limited companies can consider:
Unlike a limited company where the debts of the business remain with the company, a sole trader or a partner is automatically liable for all the debts of the business.
Sole traders or partnerships can consider:
We understand the pressures placed on directors and owners of troubled businesses especially when the time comes to stop trading. However, thanks to our extensive experience, we are able to provide clear, practical and unambiguous advice to make the process less difficult.
The initial meeting is offered without cost or obligation and is always with total discretion and confidentiality. It is at this meeting that we will set out the options available to you and details of how we can help.
For more information please contact Christopher Brown on 0114 251 8850 or email: chris.brown@hartshaw.co.uk. You can also visit our Business Recovery & Insolvency website at www.hartshaw-bri.co.uk
Your contact at Hart Shaw for Business Recovery & Insolvency is Christopher Brown