Is your company in financial difficulty?
If you think your company might be in financial difficulty, it's important to get professional accounting and legal advice as soon as possible.
How can I tell if my company's in financial difficulty?
Some signs that your company is having financial issues can include:
- poor cash flow
- ongoing losses
- overdue tax debts
- issues obtaining finance
- unpaid creditors outside usual trading terms, or
- liquidity ratios below 1:1
What should I do?
Getting advice from an insolvency practitioner as soon as possible is the best course of action. They'll be able to conduct a review of your company and outline your available options.
This can include restructuring your company, organising refinancing or even appointing an external administrator, receiver or controller.