- Business rescue can take many forms; business rescue requires strong management accounting systems linked to tight cash flow control.
- Couple this with some fresh inertia in the business and a revived appetite then the basis for business rescue is in place.
- We often talk about rescuing the owners and mangers of a business as a lifting of the pressure bought about by a viable plan will have a huge motivational impact.
- There are 2 business formal rescue processes; Company Voluntary Arrangement & Administration
- Only Licensed Insolvency Practitioners can be appointed on formal business rescue procedures and are best placed to advise on all rescue options
- There are also informal options through Business Debt Management and HMRC Debt Management plans