Facing Receivership, Liquidation or Bankruptcy

To get best value from this site we suggest a structured approach when using it for the first time. After that, it is probably better to dip into the sections that suit your own circumstances and, then, build your knowledge of the techniques and options available.

The site is built around making decisions in 3 sections. First a warning - You must decide to do something. Failure to act is not an option!

Step one: Establish the company’s current position; is it viable? Is it insolvent?

Step two: Decide what you want to do with the business and your personal life.

Step three: Look at the options available and decide on a course of action for you and the business.

You should take professional advice during this decision making process where there are unanswered questions or seemingly intractable issues.

If your areas of concern are not covered by our guides and FAQ (frequently asked questions) pages or the flowcharts and if you want to get quality professional advice - FREE - email us info@companyrescue.co.uk or fill out the contact form at Contact Us page. We will either answer your query by email or we can arrange to call you at a convenient and private time.

Having decided a course of action or if you want help with appropriate services, guides to professional firms in your area or guides to products; email or contact us for help.

Now follow these suggested steps

1) Establish if your business is insolvent and if it is viable.

2) Look at the warning signs page.

3) Establish the viability of the business, take a long, hard unemotional look.

4) Look at the guide to establishing insolvency at Insolvent? page.

5) If necessary talk to your accountant or other advisors.

6) Look at the industry you are in - is it growing or contracting, are your customers growing or

contracting.

7) Is your order or sales book good or bad, is it cyclic and this is just a bad part of the cycle?

8) Put together a list of creditors (all of them), a list of debtors, and a list of assets.

9) Look at 99 marketing FAQ’s - after reading this, could the company be viable if you applied some of the techniques?

10) Go to your objectives page and decide what you want to do with the business and your own circumstances.

11) Prioritise your objectives.

12) Don’t worry if the personal objectives seem to be more important than the company objectives.

13) Be balanced in your decision making process.

14) Then go to your options page and learn about the available options

15) Dispassionately examine your business and then apply the options to your company.

16) Look at the disadvantages and advantages of each option.

17) Think through how these techniques might affect your company, its creditors and you.

18) After reading do’s and don’ts pages.

19) Obtain further information from within your company.

20) Talk to professional advisors such as Company Rescue

21) Decide on a course of action.

If you want more detailed information email us or call freephone 0800 9700539 now.
Please note: Almost every potential client that we have ever visited has said "I wish we had talked to you sooner". Look at this picture.

Don’t procrastinate, make a decision. In most cases a turnaround practitioner has a much better chance of saving a company if they can get involved before it is too late. Likewise, the sooner you close a non-viable business, the better it is for your creditors and, ultimately, for you.

Remember you have a duty to act according to the law and the position you are in. Many directors don’t take action thinking that another sale, another contract, another payment will save their business - it probably won’t.

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