Welcome to Begbies Traynor Group in Basildon. Our team of licensed insolvency practitioners and business turnaround specialists are here to support you and your business in dealing with insolvency, and offer a range of closure and rescue options.
It is important to understand your legal obligations as a director of an insolvent company. Failing to comply with insolvency regulations can lead to repercussions on a personal level, and we will make sure you follow the correct route.
Our wide range of services for businesses and company directors include Creditors’ Voluntary Liquidation (CVL), which formally closes down a company that is beyond rescue and recovery.
We can provide reliable guidance on the insolvent liquidation process, including the best time to place your company into liquidation, and are also available for appointment as liquidators.
An alternative to CVL is to wait for a creditor to forcibly wind up your company. This is not recommended, however, as it leaves you open to accusations of wrongful trading and can lead to personal liability for some of the company’s debts.
If your business can be saved we will offer advice and practical support for various insolvency solutions, including company administration and Company Voluntary Arrangement (CVA).
Company administration can be particularly suitable for businesses experiencing severe creditor pressure. It offers an eight-week ‘breathing space’ during which time no creditor legal action can be taken.
Coronavirus continues to be a challenging issue for businesses, and with an ever-changing economic landscape, professional advice on the best solutions is paramount for companies to survive.
Our Basildon office is easily accessed from good road and public transport links in the area, but we also operate a network of other offices, including Southend and Chelmsford. Additionally, we offer video and telephone consultations so you can obtain the advice you need promptly.
2nd Thoughts Ltd, trading as Ellie Louise and Happit, was sold by our Leeds team after this long established chain fell victim to the retail sector downturn. Moving quickly they secured a buyer three …Read more →
The Company had relationships with some national house builders as well as smaller Companies. They had experienced cash flow issues due to slow paying debtors and this meant that they had fallen beh…Read more →
March 2022 Football Distress Survey: Almost half of EFL clubs see continuing financial distress as high levels of debt and rising player wages choke English clubsRead more →
March 2022 Football Distress Survey: Scottish clubs keep finances tight while English clubs suffer from ‘unsustainable’ pressure of rising player wagesRead more →
Following the appointment of Kris Wigfield, Jo Hammond and Andrew Mackenzie of Begbies Traynor as joint administrators of Delicious Alchemy Ltd on 18th May 2022, a sale of the business and assets has been completed, saving 25 jobs.Read more →