Is your company in financial difficulty?
If you think your company might be in financial difficulty, it's important to get professional accounting and legal advice as soon as possible.
Some signs that your company is having financial issues can include:
- poor cash flow
- ongoing losses
- overdue tax debts
- issues obtaining finance
- unpaid creditors outside usual trading terms, or
- liquidity ratios below 1:1
Getting advice from an insolvency practitioner as soon as possible is the best course of action. They'll be able to conduct a review of your company and outline your available options.
This can include restructuring your company, organising refinancing or even appointing an external administrator, receiver or controller.