Welcome to Begbies Traynor in Carlisle. We are a group of licensed insolvency practitioners, business turnaround experts, and company finance specialists. We assist limited companies and sole traders in Carlisle and across the wider Cumbria area with all matters of company distress.
Our Carlisle office is staffed by a talented and experienced team of licensed insolvency practitioners and business turnaround professionals who make it their mission to provide company directors and their shareholders with the help and advice they need during challenging times.
For many companies, one of the first signs of company distress is when cash flow becomes squeezed, and paying scheduled overheads and other outgoings, becomes more difficult than it once was. Once cash flow becomes compromised, swift action must be taken to prevent the situation escalating.
If you fear your business could be at risk of insolvency – or maybe it already is insolvent – seeking the help and guidance of a licensed insolvency practitioner at this time could be vital when it comes to the future of your company.
No business owner sets up a company expecting it to fail, and we understand that asking for help when things are not going well is a difficult step to take. What you must remember, however, is that there is a solution to your problems, and a licensed insolvency practitioner is the best person to help you discover what that solution looks like. Depending on the company’s current financial position, as well your aspirations for the business going forward, there are a range of processes which could be suitable.
For some, this will take the form of entering into negotiations with creditors to reach an arrangement which satisfies all parties. This can be informal in nature, or can be made legally-binding through a Company Voluntary Arrangement (CVA). When a company’s problems are simply insurmountable, however, it may be the case that liquidating the company is the only remaining option. We can help you place your company into a Creditors’ Voluntary Liquidation (or CVL) which is a director-initiated process overseen by a licensed insolvency practitioner.
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 →
Danny Scarr, an experienced banking professional, has been appointed as a director in Begbies Traynor Group’s advisory practice as it builds its offering across the Humber region and East Yorkshire.Read more →
The latest red flag research for Q3 2021 from Begbies Traynor, which monitors the financial health of UK businesses has recorded 562,550 businesses in ‘significant financial distress1’, with a 139% uplift in CCJs2 in the past year.Read more →
New data from Begbies Traynor Group has found that UK corporate debt soared by £1.9tn in 2020 to £6.6tn, and 52% of UK businesses are now saddled with ‘toxic debt’ that may never be repaid.Read more →