We make it our priority to help you prepare for the worst.
Nobody likes to think that they are in financial difficulty, but if you are in any doubt about what to do please call us on 020 7216 4600. Our turnaround and recovery team has long standing experience of dealing with all forms of insolvency appointments. You will be greeted with a friendly, confidential and professional service, with the initial meeting being free of charge so you have nothing to lose.
The main objective of our team is to help rescue or restructure a business to return it to a profitable state. This also applies to our work with individuals facing personal bankruptcy or insolvency, where a speedy rescheduling of debt may be all that is needed to avert financial disaster.
Our reliable and responsive turnaround and recovery team has a strong working relationship with clients, providing clear and objective advice since 1925. We have long standing experience of dealing with all forms of insolvency appointments and aim, wherever possible, to prevent needless formal insolvency.
Managing financial difficulties
The impact of the cost-of-living crisis, coupled with increased taxes and soaring costs, has left many businesses struggling. As a director, it is crucial to proactively assess the risk and vulnerability of your business from both operational and financial standpoints, and act decisively to mitigate issues. Even if you believe your business might not be severely affected, consider the potential knock-on effects from your customers or suppliers.
Undoubtedly, the biggest impact many businesses are currently facing is a reduction in cashflow. No business can survive without readily available cash to meet ongoing liabilities such as payroll, suppliers, and lending commitments. Even profitable businesses need to manage their cashflow, and there’s always room for improvement.
The UK is bracing for a surge in corporate insolvencies as businesses grapple with prolonged high interest rates and the recent Budget's implications, including the announcement of a National Insurance hike and minimum wage increases. Sometimes it becomes apparent that a business cannot and should not continue. However, there are various options available and, if advice is taken early enough, it may still be possible to rescue a business. The quicker you act, the more options there will be available to you.
Helping you overcome the worst
We have longstanding experience dealing with all forms of restructuring and insolvency appointments and aim, wherever possible, to prevent needless formal insolvency. We would assess your business by undertaking an independent business review and providing a report that combines technical detail with clear recommendations on financing options.
Click on the links to the right of this page to view information on the different types of turnaround and insolvency. Alternatively, please contact your usual UHY adviser to discuss your particular circumstances or alternatively call our free helpline to speak to one of our turnaround and recovery experts on 07771 653 104.
We would also recommend familiarising yourself with this helpful R3 booklet 'Dealing with money worries: a guide to your options' below to ensure that you are fully informed on the range of options available to you.
