Many SMEs that have cash-flow issues will prioritise making payments to certain creditors. But if you cannot pay all the money owed in the long-term, this is a sign that your company is insolvent. To find out, you can use the cash flow and balance sheets tests.
There are ways to get out of the business insolvency spiral.
Our firm specialises in advising micro-, small- and medium-sized companies who need professional help overcoming unforeseen circumstances with their business.
How we can help with business insolvency
Your business is more than the Limited Company shell. If you cannot pay your creditors, we can use a legal mechanism to close your company. But that doesn’t mean it’s the end for your business. In certain circumstances you can buy the assets of the business and start again.
We’ll review your company’s situation and make sure you understand all of the options that are available to you, before helping you decide on the best route to take.