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Company Rescue and Support

Company rescue and support. Author: John A Waller. Consultant. Reviewed: July 23rd, 2024.

Company Rescue and Support is the method of improving a struggling company (potential insolvent business) while advised by a licensed insolvency practitioner.

A company rescue is like a business rescue. The only difference is that a company rescue refers to an incorporated entity. A business may also include rescuing a ‘partnership’ or’ sole trader‘.

Many processes may be adopted, including the IP managing the company’s daily affairs.

Recent changes due to the Coronavirus COVID-19  pandemic include using a moratorium to protect the company from creditors’ legal action. This allows the company to attempt to get back on its feet financially and operationally.

Company Rescue and support options available?

1. Company Finance;
2. Invoice Finance to Kick-start your Cash-flow;
3. Time to pay arrangements.

Introduce a formal insolvency rescue process

1. Company Voluntary Arrangement (CVA);
2. Company Administration.

The timescale of a Business Rescue?

The response depends upon the following:

  • The procedure opted for use;
  • Size of the company and
  • Complexity of its financial circumstances.

A company’s voluntary arrangement might take a few weeks to propose and agree on approval.

Placing a company into administration is typically a more lengthy procedure, requiring six months or more depending on its ultimate aim and complexity.

Company rescue and support free insolvency advice.

How, then, do they affect you, if at all?

Viewing the pages attached to our website will answer many worried directors’ questions.

Our website offers FREE CONFIDENTIAL support online, in the privacy of your own home or workplace. If you wish to arrange

An online meeting: View and book a virtual meeting to discuss a Company Rescue further.

Our team has over 40 years of Insolvency and Turnaround expertise. We have licensed Insolvency Practitioners, Members of the Insolvency Practitioners Association, who are qualified and experienced commercially. To explore and plan a solution acceptable to you while securing creditors of your business. Directors, however, require assurance throughout any process.

HBG Advisory provides directors with business insolvency advice & support.

Initial Process of a Company Rescue

To help you during these difficult times, we outline what our initial support will involve covering company rescue & recovery.

  1. Due to the current coronavirus situation, we will arrange a virtual meeting to ensure confidential advice is safe and secure.
  2. HBG Advisory strives to understand your company’s financial position. Are you under legal pressure? How is COVID-19 affecting you, and what is your cash flow?
  3. Once we have concluded our questions, we shall respond in writing (confidentially) with a “for your eyes only” report. The report outlines what is required to put your business back on a level footing, cease trading, and close correctly, safeguarding everyone.
  4. Finally, once you have decided on what action you wish to take, we may support you in moving forward.

What Results When a Company Rescue Fails?

Liquidation ceases a company’s existence as an entity and removes it from the registrar of companies. All company employees are made redundant, and the company’s assets are sold.

A pre-pack administration offers the directors the option to buy required assets from the insolvent company. Once paid for, these assets would then rest in a new company. This process is often referred to as a ‘phoenix’ of a business. The process, therefore, saves jobs and continues a new company’s trade-in.

To view members of our senior management team, please view The TEAM at HBG Advisory.

Assistance with rescue advice:

  • Restructuring and turnaround;
  • Winding up petition;
  • Tax arrears;
  • Corporation tax;
  • Legal action?
  • Creditor pressure;
  • Director redundancy claim;
  • Company debt advice;
  • What does business recovery mean;
  • Scottish Insolvency Rescue and Recovery.

To arrange a free meeting with HBG Advisory and discuss a Company Rescue, please:

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