Worried about Business Bankruptcy?
Want to keep trading?
Want to close your company?
We assist businesses with their restructuring, recovery and rescue. We can also help with the closure of your business if that is the most suitable option.
Talk To The Experts
In UK insolvency - companies do not go bankrupt. The correct term is to be insolvent; meaning the company owes more than it can repay and so must stop trading unless a rescue strategy is implemented.
Kathryn Valentine - Senior Insolvency Administrator
So, What Do You Want To Do?
If you think your business may go bankrupt – You’ve a binary choice:-
1) Try To Save My Buinsess
We understand that companies get into financial difficulties and in most instances, the primary concern of the directors is to save the company, preserve jobs and continue to trade.
There are several options to help return to running your company without the pressures of debt hanging over it.
2) Close My Buinsess
You can enter your business into a Voluntary Liquidation. This shows creditors you have done the right thing by taking professional advice and can steer you away from the implications of wrongful trading.
You may be able to claim from the National Insurance Fund and receive payments for outstanding wages, holiday pay, pay in lieu of notice and redundancy.
Government Funded Redundancy Payments
When an insolvent company closes, employees may be able to make a claim from the National Insurance Fund and receive payments for outstanding wages, holiday pay, pay in lieu of notice and tax free redundancy.
This can cover the cost of the liquidation and leave money over for you.
I was going through a difficult period. To discover I was entitled to over £14,000 redundancy, tax free, when I closed my company changed everything.
Get A Free Consultation
We are the Focus Insolvency Group and have years of experience in dealing with complex matters for personal and corporate debts.
Speak To Us About
Business Bankruptcy
Discover if bankruptcy is the best route to take your business. We can look at all the options. Speak to one of our experts today.
