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 in a Covid-19 world
The events of 2020 represent one of the greatest challenges to business in the last 100 years and there is no doubt that the detrimental effect of the coronavirus pandemic on the UK economy will be substantial. The economic downturn that follows will result in many businesses struggling, inevitably with some individuals and sectors coming off worse than others.
It is important to consider how well equipped your business is to withstand the long haul. Be proactive in assessing the risk and vulnerability of your business, from both an operational and a financial standpoint, and act decisively to mitigate issues. You may not think that your business will be too badly affected, but what about your customers or suppliers? Will that have a knock-on effect?
Undoubtedly, the biggest impact many businesses will face during the COVID-19 crisis will be 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.
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.