Welcome to Begbies Traynor in the South Yorkshire town of Chesterfield. My name is Kris Wigfield and both my team and I are here to help company directors across the region when facing financial distress.
We have a strong and proud presence across Yorkshire with a number of Begbies Traynor offices, and our Chesterfield base serves as a director and stakeholder advice hub for all local businesses – particularly those with insolvency concerns, cash flow problems, company debts, HMRC arrears, and other operational issues.
The levels of business distress in South Yorkshire has significantly risen since the beginning of the Covid-19 pandemic - which has caused strain for thousands of UK companies - and the best way to mitigate financial uncertainty in these testing times is to take early advice.
If cash flow is an unrelenting problem, liquidation options may need to be explored but we can quickly ascertain if this is the only option available to your company. If this is the case, we can plan guide you through the company closure process and explain how directors could potentially claim redundancy in insolvent liquidation scenarios – of which the average director claim is £9,000.
If cash flow is a more repairable issue, we can provide guidance on business rescue solutions such as administration or a CVA – including the recently devised fast-track CVA which is designed to help smaller businesses affected by the Covid-19 pandemic.
The critical issue is whether your business is still fundamentally viable and can return to profitability with some restructuring. Many businesses simply need the breathing space from a relaxation in HMRC pressure in order to get their heads above water again.
Contact Begbies Traynor in Chesterfield for your free consultation today – we’re here to provide the support you need.
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 →