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 →
Following the appointment of Joanne Hammond and Kris Wigfield of Begbies Traynor as joint administrators of Wrexham - based 4 Seasons Beer Tent Co Limited (trading as Ningbo Walking Floors)Read more →
New data published today by Begbies Traynor (25th January 2023) indicates businesses in the Liverpool City Region are still battling the legacy impact of Covid debt and are deeply troubled by inflation.Read more →