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Company Rescue and Support

Company rescue and support. Written by John A Waller. Director. We reviewed October 28, 2022.

Company Rescue and Support, 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. However, the only difference is that a company rescue refers to an incorporated entity. A business may also include the rescue of 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 protecting the company from creditors legal action using a moratorium. This, therefore, 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:

  • Procedure opted for used, 
  • 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 questions worried directors ask.

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 book a virtual meeting to discuss further, a Company Rescue.

Our team has over 40 years of Insolvency and Turnaround expertise.  We have licensed Insolvency Practitioners, Members of the Insolvency Practitioners Association , who are therefore 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 then arrange a virtual meeting to ensure confidential advice is safe and secure.
  2. HBG Advisory strives to understand your company’s position financially. 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 then support you moving on.

What Results When a Company Rescue Fails?

Liquidation ceases a company as an entity, and it is removed from the registrar of companies. All company employees will be made redundant, and the company’s assets will be sold.

A pre-pack administration offers the directors the option to therefore buy assets required out of the insolvent company. Once paid for, they would then rest in a new company. Often referred to as a ‘phoenix’ of a business. The process, therefore, saves jobs and the continuation of 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:

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

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Business recovery for distressed directors and limited companies. Free advice from approachable team of advisors.Tel: 0800 612 5448
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