Begbies Traynor’s team of licensed Insolvency Practitioners in Gloucester have a wealth of experience in advising company directors across the South West on a range of business rescue and closure options.
Our Partner-led team comprises Neil Vinnicombe, Simon Haskew, and Mike Dyer along with a talented team of insolvency and business advisory experts.
Through the provision of free consultations for all directors and shareholders, you can talk to us in confidence about the financial or operational issues your business is facing. Whether your business has been beset by trading difficulties following the Covid-19 coronavirus outbreak, or the company has been struggling with cash flow issues for some time, it’s crucial that you take the earliest possible advice in order to obtain as many options as possible for the business going forward.
It’s often the case that directors trade their companies into a black hole and leave no option on the table except for liquidation – whereas earlier advice can be key in securing breathing space from creditors, exploring possible finance options, and providing more time to potentially restructure your operations into a viable business once again.
If liquidation is the only option for an insolvent company, this would normally be instigated in two distinctive ways; either through a Creditors’ Voluntary Liquidation where the director(s) ascertain that the company can no longer meet its liabilities as and when they fall due and appoint an Insolvency Practitioner to carry out the liquidation, or through a Compulsory Liquidation which is habitually brought about by a disgruntled creditor (such as HMRC or a trade supplier) who issues a winding-up petition against your company following persistent non-payment.
It’s important to emphasise the need to take early advice; our expert team can provide a full range of options available to you and your company but those options are more limited the longer a failing business continues to trade in hope rather than expectation.
You can contact us on our national director helpline where an expert adviser will listen to your business situation and then put you in touch with a licensed Insolvency Practitioner in our Gloucester office.
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 →
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 →
We are pleased to announce that the sale of the Club and associated assets has been completed. We would like to thank all staff at the Club, both past and present and on and off the field, who have worked tirelessly in keeping the Club running during theRead more →