Recovery solutions to help save your business
Every business – and every business owner – faces different challenges as they evolve. We work with business owners to look at all the options for business recovery. Which means we’re often able to help a business in a way no-one thought possible.
If there’s a business recovery solution we’ll find it and use it. Even if it takes longer.
Business recovery options
Closing your company does not have to mean the end of your business. During business recovery, the key parts of your business could move to a different company and continue to trade without unaffordable debt.
Informal negotiations with HMRC, creditors, customers, financiers and employees is the first stage. We’ll establish contact and secure breathing space to allow a structured business recovery plan to be put together for either a short – or long-term – solution.
The additional credibility that FA Simms can bring to these negotiations will be invaluable in establishing what’s achievable.
Where informal business recovery negotiations don’t work, a Company Voluntary Arrangement (CVA) could. This will give you the chance to pay creditors back over an extended time and to only pay what your business can afford.
Formal business recovery processes like these can split the strongest parts of your business from the rest and move them into a new company. Debt that the business cannot afford remains with the original company and is not transferred to the new company.
After we’ve worked through all the possible options with you to identify which are most suited to your business goals – you’ll make the final decision.