Welcome to Begbies Traynor Group in Buxton. Our specialist team of licensed insolvency practitioners and business turnaround experts are here to advise and support you with a range of business closure and recovery options.
Closure options include Creditors’ Voluntary Liquidation, or CVL. This involves formally closing down your company under statutory procedure, and can be the best option for businesses with unmanageable debt.
It is paramount to place the interests of your creditors first when your business enters insolvency, however, and to act quickly to minimise their financial losses. Entering CVL allows you to do this, and can also enable you to claim director redundancy pay if you are eligible.
The adverse effects of the coronavirus pandemic on businesses are widespread and continue to create an extremely challenging financial and operating environment. As the UK’s leading insolvency practice we can provide the trustworthy independent advice you need in these uncertain times.
Begbies Traynor are also business turnaround experts and our Buxton team can quickly establish your best options. These might include helping you source an alternative form of funding, for example, such as invoice or asset finance.
We have contacts with alternative financiers around the country, and can put you in touch with the most suitable for your business. Other potential options for business rescue include company restructure whereby your company’s debts are formally renegotiated with creditors.
Company administration may also be a suitable avenue, and we can provide detailed guidance on this. Administration offers an eight-week moratorium during which time the appointed administrator makes a plan for the business’ future without the threat of creditor legal action.
Our office in Buxton is easily accessible and we operate other offices in the area, including Stockport. We also offer video and telephone consultations to company directors to ensure advice is available without delay.
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