Welcome to Begbies Traynor in Bromsgrove. We are a team of licensed insolvency practitioners and business rescue and restructuring experts. We assist companies in Bromsgrove and the wider Worcestershire area, helping them understand their options when facing financial distress.
Working alongside companies and their shareholders, Begbies Traynor Bromsgrove are here to help when matters of financial distress threaten the future of a business. While every company is different – each dealing with its own unique challenges – our main aim will always be the same which is to put in place an appropriate plan to help guide the business to a place of safety.
For some companies this will require a formal insolvency process such as a Company Voluntary Arrangement (CVA), or placing the company into administration. While this is a big step to take, often the security of a formal and legally-binding process is exactly what a company needs to plan for the future. Depending on the process chosen, you may be able to lower your monthly debt repayments, write off unaffordable debt, or close down unprofitable or non-performing areas of the business.
If your company cannot be saved – perhaps its debt problems have escalated to an unmanageable level, or you simply do not have the desire to continue trading – you may wish to consider placing your company into voluntary liquidation using a process known as a CVL. Our insolvency practitioners are licensed to act as liquidators, and can explain the whole process to you, including what this will mean for your employees and outstanding creditors.
Regardless of whether your objective is to save the business, or to close the company in an orderly manner, your appointed advisor will talk you through the pros and cons of each option, giving you all the information you need to make an informed decision.
You can make an appointment with a licensed insolvency practitioner at our Bromsgrove office, or in nearby Worcester.
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 →