Welcome to Begbies Traynor in Wakefield. We are a team of licensed insolvency practitioners and business turnaround professionals, here to help your company during times of financial distress.
At our Wakefield office our team of insolvency practitioners and restructuring experts help company directors from across West Yorkshire on all aspects of business rescue, recovery, and turnaround. We can also discuss closure options if you no longer wish to continue trading.
Many businesses will experience a period of financial distress at some point. This may be temporary and short-lived, or it may become endemic and threaten the future of the company altogether. The most important thing is to take action at the early signs of distress or financial challenges. In many cases, a plan can be put into place to stem the losses being suffered, and get the company back to a healthier position.
We will take the time to understand the challenges you up against before fully exploring all the options which may be suitable for your situation. Business rescue is not a one size fits all solution; what may work for one company, may be wholly inappropriate for another. By taking a tailored approach to business turnaround, we can give your company the very best chance of survival as possible.
If liabilities need to be restructured, we can conduct negotiations with creditors on your behalf, arrange a repayment plan with HMRC for tax arrears, or consider a more formal process known as a Company Voluntary Arrangement (CVA) for more acute debt problems. Alternatively, company administration can be considered when creditors are threatening legal action, or where more intensive restructuring is required.
As well as being able to utilise both formal and informal business rescue processes, we can also help bring to an end those companies which cannot be saved by placing them in a voluntary liquidation process.
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 →
Julie Palmer, Julian Pitts and Andrew Hook have been appointed as Joint Administrators over WRFC Trading Ltd (“the Company”) on 27 September 2022. The Joint Administrators act as agents of the Com…Read more →
On 16 September 2022 Julian Pitts and Bob Maxwell of Begbies Traynor were appointed as joint administrators of Monk Fryston Hall Hotel Ltd.Read more →
JK Domestics, an appliance repair service based in Liverpool, has been acquired out of administration in a pre-packaged deal secured by Begbies Traynor which has saved 17 jobs.Read more →