Costs

How we charge for our work to rescue a business

We insist on laying out our fees in a clear way to avoid later confusion. You will receive a written confirmation of the fees after your meeting with either the directors or one of the regional managers. These will be set out in our solutions report that we provide. The solutions report is free. The fees are based on the amount of work that we are expected to do in order to persuade the creditors that the business is viable and that it is in everyone's best interest to allow the company more time to pay back its debts or even write up to 65% of it off. As licensed insolvency practitioners, we have to ensure that everyone is treated equally and within the law. As such, it is vital that as much information as possible is passed to us at the meeting. It is also important to act quickly as costs can mount if creditors become more aggressive.

We believe that our fees offer considerable value for money. Most other insolvency professionals do not quote costs in writing in advance and costs can escalate from verbal quotes.

If comparing our fees with another firm, please ask them to give you a similar detailed breakdown of their proposed work and costs in writing to make a fair comparison. 

So, what we do:

  • We give strategic advice to the directors on how best meet the demands of creditors whether this be by finding new finance, cutting costs, or restructuring the business.
  • We build the CVA or Time to Pay proposals, and ensure payments are affordable.
  • Liaise with ALL creditors and shareholders in their's and the company's best interests
  • Construct a forecast for the company by drawing on our extensive experience of business in distress.
  • Help directors and creditors through the process as it can be stressful and/or confusing.
  • We do not ask for personal guarantees for the fees or contributions into a CVA if applicable- check the small print! 

Payment of our fees

We know that if a company has severe cash flow problems then finding money for fees can seem difficult, however by using our  approach this will be alleviated as cash will be kept in the business once creditors are informed that you are proposing a restructure and work in progress can be turned into cash.  We accept payments over a period of 8 weeks during the drawing up of the proposals.

By not paying creditors’ arrears, collecting debtors and converting work in progress into cash, the cash flow will improve and our daily cash flow forecast can assist with this.

For more information on fees if you are creditor then see the Insolvency Practitioners Association Guide to Fees

How we charge if looking at formal insolvency such as administration or liquidation

We insist on laying out our fees in a clear way to avoid later confusion. You will receive a written confirmation of the fees after your meeting with either the directors or one of the regional managers. These will be set out in our solutions report that we provide. The solutions report is free. The fees are based on the amount of work that we are expected to do in order to close the company down, collect monies in and distribute it fairly between creditors. As licensed insolvency practitioners we have to ensure that everyone is treated equally and within the law. As such, it is vital that as much information as possible is passed to us at the meeting especially the likely number of creditors and their attitude towards the business. 

We believe that our fees offer considerable value for money. Most other insolvency professionals do not quote costs in writing in advance and costs can escalate from verbal quotes.   Our fees start from £3,800 + VAT and £4000 + VAT in Scotland.

If comparing our fees with another firm, please ask them to give you a similar detailed breakdown of their proposed work and costs in writing to make a fair comparison. 
So, what we do:

  • Collect all financial information and monies owed
  • Liaise with ALL creditors and shareholders in their's and the company's best interests
  • Deal with employees
  • File all necessary court documents
  • Help directors and creditors through the process as it can be stressful and/or confusing.