At Francis Wilks & Jones our team of business recovery and insolvency experts act for all types of business owners, shareholders, directors, creditors and financial institutions in all aspects of business recovery.
Our team is often instructed by either directors or shareholders who are experiencing difficulties with their company, looking for advice and help in the turnaround of their business.
In these difficult times, our team are called upon now more than ever to help companies experiencing problems turnaround to successful business recovery.
Taking early advice makes all the difference
One thing we have learnt above all else is that a company that seeks advice early, has many more options available to it than a company that ignores their situation. The earlier advice is sought the greater the chances of successful business recovery, and a viable future profit-making business.
At Francis Wilks & Jones our team can look at the problems facing your company to see what options are available for you. Contact us as soon as you know that your company is experiencing solvency problems, and we can chat through the issues with you.
Different options are always available
In terms of business recovery, restructuring and insolvency, there are many different options available for businesses who need help. If your company has an underlying business that remains viable, then there are all sorts of business recovery procedures that we can help you with that can get you through a difficult patch.
Equally, if it sadly becomes clear that your company does not have a viable business to continue trading, then while it is never easy, it is often a relief to business owners to make the decision to go into liquidation. We can help you through the process to make it as painless and fast as possible.
Let us help you see the “wood for the trees”
If you can’t see the wood for the trees, then here are some examples of how you can bring about business recovery that you may not yet have considered:-
- A full review of your debtor situation, with new methods of debt control to increase cashflow
- reaching agreement with your creditors to give you some breathing space to allow the company to recover. This can be on a formal or informal basis, and we can discuss the various options with you.
- A review of the management team and/or the employee base to ensure that you are working at your maximum efficiencies.
- Aiding cashflow by refinancing, either with short-term cash injections or sale of non-core assets or other financing methods.
Whatever the problems within your company, we can help. Our team of experts at Francis Wilks & Jones work with the best in the industry, including insolvency practitioners and financiers, who between us can help you make your way through your business difficulties and come out the other side with an effective business rescue strategy. Talk to us now, and one of our team of friendly advisers can discuss your options with you.
Whatever your situation – we can help
We have also set out below our answers to the common questions we get asked on this subject. We hope you find these useful, but do feel free to call one of our friendly team of advisers for a confidential call on any of these issues.
Common questions answered
1. Are directors liable for debt in a limited company?
We are frequently approached by worried directors of a company which is facing financial difficulties and requires some form of business restructuring or business turnaround, or they are looking to effect a company rescue and are concerned about their position as company directors. They will ask us are directors liable for debt in a limited company? We set out below some more information on directors liability in a limited company.
2. How do I revive a dying business?
Our team of expert company rescue professionals at Francis Wilks & Jones are often asked how do I revive a dying business? There is no one formula for business turnaround and the question of how do I revive a dying business should be considered by looking at an overall business recovery strategy with a business rescue expert.
3. What happens if my limited company goes bust?
At Francis Wilks & Jones we are often approached by business owners who are concerned about what happens if my limited company goes bust? Their concerns are from the point of view of the business, but also in their personal capacity as directors of a business with financial difficulties.
4. How can poor cash flow affect a business?
In any successful business cash flow is key. At Francis Wilks & Jones we are frequently asked how can poor cash flow affect a business and how do you handle a cash flow shortage? These are key questions in any business turnaround situation and our team of experts at Francis Wilks & Jones frequently advise and act for companies that require advice on cash flow and company rescue.
5. How do you handle a cash flow shortage?
For any successful business maintaining sufficient cash flow is imperative. At Francis Wilks & Jones we are frequently asked how can poor cash flow affect a business and how do you handle a cash flow shortage? These are key questions in any business turnaround situation and our team of experts at Francis Wilks & Jones frequently advise and act for companies that require advice on cash flow and company rescue.
6. Preventing a company from being dissolved
At Francis Wilks & Jones we are sometimes approached by directors of a company, or creditors of a company for advice on preventing a company from being dissolved. We look at the wider picture to see whether it is possible to act in preventing a company from being dissolved, and whether that is the course of action for the company in the circumstances. If you would like to learn more about preventing a company from being dissolved, and why this might be necessary, we explain below.
7. How can I save my struggling business?
We advise many business owners who ask the same question, how can I save my struggling business? At Francis Wilks & Jones we are instructed on a variety of business rescue situations, and no two are the same. However, there are some common ways in which to deal with the question of how can a business avoid failure. Contact us today to discuss the various options for your business.
8. What is business recovery or company rescue?
At Francis Wilks & Jones we act on all aspects of business recovery for companies that are suffering financial problems. Our friendly team of business recovery experts can talk you through any aspect of company restructuring, business turnaround and more formal insolvency processes as appropriate.
9. Business recovery strategy
Any company that is facing financial difficulties will inevitably be concerned about their prospects of business recovery. There are many ways to bring about a company rescue and business turnaround, but without a business recovery strategy, a business is not likely to bring about a successful business turnaround and business recovery with a company rescue.
10. How do I sell assets to save my company?
When a company has financial struggles but a viable business, those difficulties often stem from poor cashflow. In order to increase cashflow and bring about a company rescue, it may be advisable to sell some assets. Below we discuss how this might be possible, and the various options available to business owners.
- 1. Are directors liable for debt in a limited company?
- 2. How do I revive a dying business?
- 3. What happens if my limited company goes bust?
- 4. How can poor cash flow affect a business?
- 5. How do you handle a cash flow shortage?
- 6. Preventing a company from being dissolved
- 7. How can I save my struggling business?
- 8. What is business recovery or company rescue?
- 9. Business recovery strategy
- 10. How do I sell assets to save my company?