FA Simms & Partners – Manchester Office
Licensed Insolvency Practitioners
Finding an Insolvency Practitioner you can trust can seem like hard work, especially in a city as large as Manchester.
F A Simms & Partners have an office right in the heart of the city and have been helping SMEs in the North West for over 36 years. We are an owner-managed business and so understand the pressure directors face running a successful company.
We offer free no obligation advice, so even if you just need a question answering with regards to insolvency or business rescue, we can help.
Where to Find Us
What is insolvency?
Insolvency can be noticed in 2 circumstances:
- Cash Flow Test – you are constantly late in repaying creditors due to a lack of funds within the company
- Balance Sheet Test – your liabilities continually outweigh your assets
What is liquidation?
Company liquidation is the formal process of closing down an insolvent company due to it suffering from insolvency.
The most commonly used process for company liquidation is called a Creditors’ Voluntary Liquidation (CVL). This process is director-led meaning that it is the decision of the directors/shareholder to enter the company into the process.
What is business rescue?
Business rescue is the first port of call for an Insolvency Practitioner to explore. It is their main job to rescue as many businesses from insolvency as possible, and should only use a liquidation process as a last resort.
There are two formal business rescue processes available:
- Company Voluntary Arrangement (CVA)
Free consultation at our Manchester Office
The first initial meeting you have with F A Simms & Partners is free, and it will include understanding your situation and trying to find the best solution to fit yourself and your circumstance.
You will only receive advice from one of our Insolvency Practitioners all of whom have over 10 years’ experience working within the insolvency industry and so have the relevant skills and experience to give you the best tailored advice to your needs.