The key to avoiding insolvency is to seek professional help as soon as the first signs of difficulty appear. The experienced professionals at Griffin Accountants are able to assist in identifying problem areas, and suggest solutions to improve the position of the company. Timely and expert advice may be able to save your business from liquidation or receivership.
Receivership entails someone being appointed to raise funds within the company to repay a financer. In the case so many of the company assets are sold it is unable to continue daily business, liquidation is necessary. A liquidator disposes of all the assets of the company and repays creditors. Upon liquidation the company ceases to exist
In the event that liquidation or receivership is necessary, we can recommend an Insolvency Advisory firm that has the experience and skills required to assist.
If your business is struggling under financial and operational difficulties, proactive and insightful action is vital for avoidance or minimisation of the ramifications. Contact us today for an appointment and expert advice to aid your situation.