At UHY Hacker Young we provide a specialist turnaround and recovery service to assist directors to overcome serious financial threats to their businesses and avoid personal liabilities. Our approach is personal and practical.
As a client, you will benefit from the input of a Licensed Insolvency Practitioner with many years’ experience in restructuring and formal insolvency procedures of Administrations, Liquidations and Voluntary Arrangements to help businesses to survive and succeed.
To increase the possibility of rescuing the business, early action is paramount, failing to act quickly when a downturn is experienced can have a terminal effect.
We quickly help you explore all available options and take decisive action. We can handle difficult third parties on your behalf, keep you in control and work with you closely to achieve the very best available outcome. By engaging our services, this will assist in limiting the negative impact on a director’s personal financial affairs, as many will introduce personal funds to a business in an attempt to turn the situation around.
Closing a company is not all doom and gloom, a director/shareholder may take the decision to close a business in order to obtain a return on their capital. By instructing us to complete a Members Voluntary Liquidation, the exit process becomes more tax efficient for the shareholder, therefore maximising their return.
Not every company in difficulty needs to enter a formal insolvency process. We can help you avoid this through drawing on our expertise in private equity, management buy-outs, preparation of the business model, financial modelling and business valuation.
Formal corporate insolvency process
We will advise you on the various options available, including administration, liquidation and Company Voluntary Arrangement (‘CVA’), and explore the most suitable option for your particular circumstance.
Our experienced staff work alongside specialist lawyers and valuation agents to ensure business assets are maximised in distressed circumstances.
Members voluntary liquidations
If your company is solvent but you wish to cease trading and distribute assets to shareholders then you may consider voluntary liquidation. This process can offer protection and an orderly wind down.
We also have extensive experience in dealing with group simplification, assisting organisations in dissolving dormant companies making their group structure more transparent and reducing operating costs.
In Manchester we have a specialist team that can deal with all aspects of Property recovery. We deal with several lenders and take numerous Law of Property Act Receivership appointments and Fixed Charge appointments across all areas of England and Wales. We also have our own in-house property management team.
We can advise on personal insolvency and how each process will affect you and we will advise you on the best course of action taking into account all the circumstances. We will also assess whether or not entering into formal or informal agreements with creditors would benefit you most. If formal arrangements are needed we can advise on individual voluntary arrangement (IVA); bankruptcy; a scheme or deed of arrangement, or a partnership voluntary arrangement (PVA).
The next step
If you think your business may be at risk of insolvency please contact one of our turnaround and recovery specialists by clicking the ‘Contact us’ button above.