Insolvency Practitioners in Winchester

Welcome to Begbies Traynor Group in Winchester. We are a group of licensed insolvency practitioners and business turnaround experts helping companies in Winchester and across Hampshire understand their options for rescue and closure.

At our Winchester office you will find a talented team of licensed insolvency practitioners and business turnaround professionals, all committed to assisting company directors, shareholders, and sole traders during their toughest times.

If your company is insolvent, or you are concerned it is heading that way, seeking professional advice at the earliest possible opportunity is vital. Left alone, financial issues often escalate and can rapidly push a viable business to the brink of insolvency. Financial distress displays itself in a variety of ways, but you should be alert to any tightening of cash flow, soaring monthly costs, or an inability to secure finance or extend existing funding channels.

Depending on where your company is feeling financial pressure, as well as how receptive your creditors are when it comes to renegotiating your liabilities, there are several options we can consider, including:

• A Company Voluntary Arrangement (CVA) which functions as a formal payment plan entered into by an indebted company and its creditors. Once approved, it becomes legally-binding on all sides and aims to provide a company a way of repaying what it owes in an affordable and sustainable manner.
• Placing a company into administration provides time, breathing space, as well as legal protection while the company is being restructured. The aim of administration is to save as much of the business as possible, or else to maximise returns for creditors.
• Informal options such as arranging a Time to Pay (TTP) plan with HMRC for tax arrears, or introducing new funds into the business to immediately improve cash flow.

Unfortunately, not all companies can be saved, and if you would like to explore the possibility of liquidating your company, we can talk you through the whole process, and as licensed insolvency practitioners, we can act as liquidators if formally appointed.

Arrange a free consultation at our Winchester office to learn more about your options.