Welcome to Plymouth office of Begbies Traynor. We are a group of licensed insolvency practitioners providing expert help and advice to directors and sole traders experiencing financial distress.
At Begbies Traynor Plymouth you will find a talented team of insolvency practitioners and business turnaround experts, all committed to providing the help and advice limited company directors and their shareholders need during times of company distress and impending insolvency.
Whether you are struggling with increasingly squeezed cash flow, concerned about escalating debts, lease agreements, or other monthly liabilities, or you are simply worried about what the future holds for your company, we are here to help. We will take the time to understand your current position, and quickly and expertly identify the most appropriate solution that best meets the needs of your company and its creditors.
There are a range of formal and informal insolvency processes, each designed to give companies just like yours, a way out of mounting financial distress. The best option for you will depend on a number of factors including the level of your company’s debts, your ability to services these liabilities, as well as the ongoing viability of the business.
A Company Voluntary Arrangement (CVA) could allow you to restructure existing liabilities into a legally-binding repayment agreement with creditors. You will be allowed to continue trading and use your future profits to repay your existing debts. Alternatively, if your debt is predominantly owed to HMRC, we can help negotiate a Time to Pay (TTP) arrangement which will give you additional time to bring your tax arrears up to date.
Sometimes, extreme levels of financial distress may render the company beyond rescue. While no one wants to see their company liquidated, in some instances, this may be the best option for all concerned. As licensed insolvency practitioners, we can place the company into a director-initiated voluntary liquidation process known as a Creditors’ Voluntary Liquidation (CVL). This will bring the company to an end in an orderly manner, with creditors being repaid from any proceeds of the liquidation.
You can arrange a free no-obligation consultation by contacting our Plymouth office directly.
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 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 →
Experienced insolvency practitioner, Michaela Daly is stepping up to lead the Begbies Traynor operation in Staffordshire alongside partner Diane Dunion.Read more →