Welcome to the Begbies Traynor Bromley office. We are a group of licensed insolvency practitioners and business turnaround experts assisting limited companies with all areas of insolvency and financial distress.
At the Bromley office of Begbies Traynor you will find a dedicated team comprising of some of the most skilled and knowledgeable insolvency practitioners and business rescue experts in the country. We are here to assist company directors, shareholders, and sole traders with all manner of financial and operational challenges. From owner operated SMEs, through to multi-national companies, we treat every business as the individual entity it is and will work to devise a tailored strategy which takes into account the exact pressure points being felt.
Financial distress comes in a range of forms, from poor cash flow, through to increased liabilities, and changing consumer preferences. Regardless of how your company is manifesting these problems, the answer is the same – seek swift advice from a licensed insolvency practitioner. Taking action during the early stages of distress can be instrumental in turning around the fortunes of the company, with many more options being open to you.
We can talk you through the range of insolvency processes available, before highlighting the route we believe to be the most beneficial for your company, its employees, and its creditors. In some cases, this may require a formal insolvency process such as a Company Voluntary Arrangement (CVA) or administration; while other situations may be able to be solved using less formal action, for example by introducing additional funding into the business, or negotiating a Time to Pay (TTP) arrangement with HMRC to bring tax arrears up to date.
If you no longer wish to continue running the company – perhaps its problems are too numerous, or you simply want to move onto a new venture – we can talk you through the process of placing the company into a Company Voluntary Liquidation (CVL). This will bring the company to a close in a manner which is in accordance to the Insolvency Act 1986 and ensure all outstanding creditors are treated fairly.
You can arrange a consultation at our Bromley office to learn more about your options.
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 →
Leading insolvency specialist Begbies Traynor has promoted Joanne Hammond to partner. Based in the firm’s Sheffield office, she works across the Yorkshire region.Read more →
The latest Red Flag Alert research for Q1 2021 has recorded 723,000 businesses in ‘significant financial distress1’ after the largest numerical quarterly leap (93,000) recorded in the research since its new version was launched in 2014. This 15% increaseRead more →
Kris Wigfield of Begbies Traynor in Sheffield and Steven Wiseglass of Inquesta, the joint liquidators of London-based recruitment business Sourcechain Technologies, have sold an unusual asset as part of their work to liquidate the company.Read more →