Turnaround & Rescue

How to avoid insolvency

Speaking to one of our expert advisors is free of charge and could put you back on the right path and your mind at ease

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We can help you to understand the options that you have to choose from

Sometimes it is possible for a company that is experiencing financial difficulty to recover and avoid the formal insolvency procedure. Whether you need to raise some immediate finance, regain control of your credit control process and collect in cash or put together a formal business turnaround proposal, the team at ICS are here for you.

The first step will be to get to grips with the company’s financial position and recognise the problem in hand, understand your business needs and what your ambitions are moving forwards. Following this confidential, independent review we can help you understand the options available. If required we can help you to look at possible options for raising necessary funds though our Funding Solutions team, or explore the possibility of a sale or a merger.

If it appears that a more formal turnaround plan is the right option and can be implemented successfully, then our team and our trusted partners will work tirelessly to help you achieve this outcome.

If you have not yet found yourself in this situation, then there are certain steps you can take to try and avoid insolvency.

  • Take an in-depth look at your business’ finances. We would recommend making a detailed record of what assets are owned by your company and what liabilities you have, which should give you a clear picture of your financial situation
  • The next step is to take a realistic look at your business’ cash flow projection for the next few months at a minimum. Are there any financial pressure points that may affect this such as seasonal peaks and troughs or additional payments to HMRC? This will help you see if continued trading is a viable option
  • Are your customers paying you on time? Would you benefit from assistance with credit control, allowing you to focus on running the business
  • Do you owe money to HMRC? It may be possible to seek a Time To Pay Arrangement - again, our experts can help you justify this properly

Funding Solutions

If additional finance is what is needed to turn your business around or generate additional working capital to see through a particularly tricky period, then we can help you explore the different options available. We work closely with a wide range of funders and are confident that we can find the right solution for you.

Restructuring & Insolvency

Our core service, at the heart of everything we do here at ICS, is Restructuring and Insolvency. Rest assured that insolvency is not the end of the world; there are a wide range of options and solutions available that we can assist you with.

Getting the help you need

We understand the stresses and strains of having a business experiencing some form of financial difficulty or uncertainty. It is important as a business owner or director to make sure you keep in control if you want to avoid insolvency, part of that is seeking early professional advice.

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