Worried About Your Limited Company?
Experts In Business Recovery
What Our Clients Say
“My business was struggling, I contacted Business Solution Centre and they took all of the stress away and provide me with my options”
“The Insolvency Practitioner gave me his mobile number and told me to contact him directly at any time if I had concerns, he was true to his word and all my calls were answered and my concerns removed”
“I had one point of contact right the way through my liquidation journey. I never had to wait and listen to hold music or press option buttons to speak to my Professional Advisor”
“Polite, knowledgeable, professional and courteous”
“I honestly thought that I had failed at business, if I hadn’t sought advice, I wouldn’t still have my company”
“I spoke to Andrew Ryder, he was caring and reassuring from our first conversation”
“The decision to declare insolvency can never be an easy one, bringing with it feelings of doubt and fear. Seeking advice and taking the necessary course of action has lifted a weight off my shoulders.”
“At our first meeting they explained all of my options and the necessary steps of each. I was then able to make an informed decision”
“After providing me with my options, they suggested taking 24 hours for me to decide whether or not to engage them to work on my behalf”
“I can honestly say that Business Solution Centre took a situation which I was dreading and made it as painless as possible”
What Our Clients Say
“My business was struggling, I contacted Business Solution Centre and they took all of the stress away and provide me with my options”
“The Insolvency Practitioner gave me his mobile number and told me to contact him directly at any time if I had concerns, he was true to his word and all my calls were answered and my concerns removed”
“I had one point of contact right the way through my liquidation journey. I never had to wait and listen to hold music or press option buttons to speak to my Professional Advisor”
“Polite, knowledgeable, professional and courteous”
“I honestly thought that I had failed at business, if I hadn’t sought advice, I wouldn’t still have my company”
“I spoke to Andrew Ryder, he was caring and reassuring from our first conversation”
“The decision to declare insolvency can never be an easy one, bringing with it feelings of doubt and fear. Seeking advice and taking the necessary course of action has lifted a weight off my shoulders.”
“At our first meeting they explained all of my options and the necessary steps of each. I was then able to make an informed decision”
“After providing me with my options, they suggested taking 24 hours for me to decide whether or not to engage them to work on my behalf”
“I can honestly say that Business Solution Centre took a situation which I was dreading and made it as painless as possible”
Wrongful Trading
Independent advice tailored to you
Claim on average £12,000 redundancy
Our advice could stop creditor action
Experienced in stopping court Action
Offering free director advice
Next day face to face meeting if required
Don’t end up being personally liable for the company debt
We could prevent your family home being at risk
Act now and we can protect you & your company
Make a fresh start, call us today for advice
Call us in confidence on 0800 0465 600
At some point prior to your company entering into Insolvency (Liquidation or Administration), if you knew or ought to have known that there was no reasonable prospect of you avoiding Insolvency you need to have taken every reasonable step to prevent further loss to your creditors. Failure to do so potentially enables the Liquidator or Administrator to bring claims against Directors, Directors and, former Directors of the Company. These claims are to recover any funds that have been paid out prior to the insolvency whether they were paid in good faith or not. These funds include salaries, bonuses or repayment of any debt.
Whilst these payments may have been paid in good faith the consequences of not taking action can be serious. The Liquidator or Administrator will investigate all transactions prior to the Insolvency and any successful claim may put your personal possessions at risk such as the family home and could ultimately result in your personal Bankruptcy.
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How to avoid Wrongful Trading
There are two tests of insolvency
Balance Sheet test – Where the value of a company’s assets are less than the amount of its liabilities
Cash-flow test – The company is currently or will be in the future, unable to pay its debts as they fall due
How to prevent a wrongful trading claim
- Keep up to date records of all transactions made by the company
- Do not show any preference by paying a certain creditor ahead of all others
- Do not make any further dividend payments
- Consult an experienced Insolvency Practitioner for advice.
The sooner you act could prevent you being guilty of wrongful trading, check the potential solutions on our website and do not hesitate in contacting us today for free advice on 0800 0465 600.
Obtain your free online liquidation quote:
Free Online Liquidation QuoteAlternatively speak to our team on 0800 0465 605
There are many ways in which debt can affect a business. Lines of credit from suppliers are the lifeblood of most businesses as it allows them to purchase the required stock that they otherwise wouldn’t have been able to. If these were to cease it could have a devastating impact on production and subsequently profit.
Speak to me directly for free advice on 0800 0465 600
Andrew RyderFree Telephone Advice
Contact us today for free insolvency advice and information on our services:
+44 (0)800 0465 600
Mon-Fri: 8am-8pm
Redundancy Calculator
try our online calculator to see if you are eligible for a redundancy claim between £7000- £12,000.
Contact our team today on 0800 0465 600
Case Studies
Manufacturing
Manufacturing Mr B – Northern Ireland. The Company was a small manufacturing business incorporated in 2010. The company was profitable with staff numbers increasing with six employees working at the company in its height of trade. Contact our Insolvency Specialists...
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Construction
Construction Mr H – Manchester. The company was incorporated in 2007 and the initial start-up costs were funded by the Director in hope that these will be repaid once the company became successful. Contact our Insolvency Specialists for Free Advice Today Make Your...
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Hospitality
Hospitality Mr B – Hartlepool. The company was incorporated in 2016 by the director and the start-up costs were self-funded by the Director. The Company ran a public house in the town centre of Hartlepool and relied on the Directors contacts within the industry such...
read moreAbout Us
What makes us different is our friendly and empathetic approach. Our team of experts, combined, have over 50 years’ insolvency industry experience. That’s why we genuinely understand the impact that insolvency can have not just on individuals, but on their families.
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