Failing Companies

During times of financial instability, many businesses will be experiencing concerns about their company’s future, worried that their business may be failing.

How our experienced team can help you

At Francis Wilks & Jones, our team of experienced company rescue expert lawyers have dealt with all types of company financial problems over their many years of combined experience.  We are here to look at your company’s situation with you and discuss the options that may be available to you.

No matter what your particular situation, our experience has told us that the earlier you take expert advice, the higher the chance you have of turning around your business, and the more options that are open to you. Leave it too late, and it might be that the only options left open are formal insolvency processes.

If things look particularly bleak, there is often light at the end of the tunnel.  If you think your business is failing, speak to us.

Common problems we can assist with

While every company will have their own individual issues, there are often many of the same issues that occur in all companies facing financial difficulties, such as:-

  • Cashflow – poor cashflow can be the reason why an otherwise viable business can fail. There are some key ways to improve cashflow that can take the pressure off and turnaround a business quickly. Speak to one of our expert team to discuss the options for your business to improve cashflow.
  • Management issues – another key cause of company failure is not having the right team in place to manage the company out of its difficulties. There might be disagreements between the directors and shareholders that are preventing decisions being made. At Francis Wilks & Jones we can review the situation with you and make suggestions that may make all the difference to your business turnaround.

There are many tried and tested ways of business recovery and company turnaround that can dramatically change the direction of a company. Business owners who are firefighting can often lose focus on the bigger picture, but our team of experts at Francis Wilks & Jones help you to look at your company in a new light, and to make changes that can mean the difference between your company’s success or failure.

If your business is experiencing issues, the earlier you act the more options available to you. Contact our team of friendly advisers at Francis Wilks & Jones today to discuss.

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 of use. But do please feel free to call one of our friendly team of advisers for a confidential call on any of these issues.

 


Common questions answered

1. How can you prevent a business from failing?

At Francis Wilks and Jones we are often approached by concerned business owners who ask us how can you prevent a business from failing? There is no one formula for success, but at Francis Wilks & Jones our business recovery and company rescue team have years of experience advising on business restructuring and business recover. Our business rescue experts at Francis Wilks & Jones are here to talk through your particular business recovery issues to discuss with you how can you prevent a business from failing.

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2. What causes business failure?

There are many causes of business failure and it is unlikely there is just one cause that will lead to the need for company rescue. Sometimes a business owner is too close to the business to spot the signs, and it is often advantageous to contact a business rescue expert for an independent review to consider the causes of business failure. At Francis Wilks & Jones we have an experienced team of business rescue experts who can look at your particular situation and discuss the options with you.

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3. How do you know if your business is failing?

It is often difficult to ascertain exactly how do you know if your business is failing? There are inevitably key signs that a business is failing, but in most situations there is a gradual decline and it is hard to pinpoint one particular reason that will tell you how do you know if your business is failing. At Francis Wilks & Jones we are instructed by with many businesses who are concerned at their own situation. Our team of business rescue experts are experienced in spotting the signs and what causes business failure, and can provide practical advice on business turnaround and company rescue.

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4. What to do if business is going down?

Francis Wilks and Jones is often instructed by concerned business owners who believe that there is a problem with their business where they require some sort of company rescue in order to effect a business turnaround, and they want to know what to do if business is going down? At Francis Wilks & Jones we have a team of business rescue experts who have experience with all aspects of business failure and can talk through a business recovery strategy with you to look at what causes a business failure, and to establish a business turnaround plan to achieve a successful business recovery for you.

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5. How to overcome business failure

We are frequently instructed by concerned business owners asking how to overcome business failure? There is no easy answer to this question, and no two businesses are the same. However at Francis Wilks & Jones our business recovery and company rescue team have many years of experience of advising on business restructuring and business recovery, and our business rescue experts at Francis Wilks & Jones are very well placed to talk through your particular business recovery issues and discuss with you how to overcome business failure.

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6. How can a business avoid failure?

We are often instructed by concerned business owners who believe that there is a problem with their business requiring company rescue to bring about a business turnaround. They want to know how can a business avoid failure? At Francis Wilks & Jones our team of business rescue experts have acted on all aspects of business failure and can consider a business recovery strategy with you to look at business turnaround and your successful business recovery.

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7. Dealing with business failure

We are often instructed by concerned business owners seeking advice on dealing with business failure? There is no one formula for business success because no two businesses are the same. However at Francis Wilks & Jones our business recovery and company rescue team have many years of experience advising on business restructuring and business recovery processes, and our business rescue experts at Francis Wilks & Jones are well placed to talk through your particular business recovery issues and discuss dealing with business failure with you.

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8. What is it called when a business fails?

At Francis Wilks & Jones we act and advise on all aspects of business recovery and company rescue, both formal and informal. In a vast majority of cases with a business it is possible to bring about company rescue using a business recovery strategy to effect a business turnaround and provide for business recovery. However, when it is not possible, a business may fail.

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9. What are the reasons why business fail?

There can be any number of reasons which might lead to a business failure but inevitably with the benefit of hindsight there will be signs a business will fail during the course of the business life. Decline is more likely to be gradual and it is quite possible that business owners considering how to overcome business failure might miss the signs, but if left, these can lead to problems that require a business recovery strategy and a company rescue.

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10. How can a business overcome a financial crisis?

Any business with financial difficulties will inevitably be very concerned and want a business recovery strategy for their business in financial crisis. It is important that any business in difficulties takes a step back to consider the issues that have brought that business to require company rescue. It is advisable to do this in conjunction with an independent business rescue expert, who can devise a business recovery strategy with you, and consider ways of business restructuring and business turnaround in order to effect a successful company rescue. At Francis Wilks & Jones we have a team of experts who frequently deal with businesses in financial crisis and are available to advise.

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11. Signs a business will fail

There can be any number of reasons which might lead to a business failure but inevitably with the benefit of hindsight there will be signs a business will fail during the course of the business life. In many cases there is a gradual decline that business owners considering how to overcome business failure might miss, but which can then lead to more serious problems and the need for business recovery and company rescue.

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