Insolvency

At some point in their lives, most businesses encounter cash flow or working capital difficulties - especially in the current economic climate.

This may be a result of slow payment by customers, or even rapid growth resulting in overtrading. However profitable a business may be, if these issues are not addressed quickly and decisively, the future viability of the business could be compromised.

Whatever the cause of the difficulties, Gorvins' team of corporate recovery and turnaround specialists will help you get things back on track or, if that's not possible, manage the situation to the best possible outcome. We will advise you on the best way to resolve the situation, working as required with your accountants, bank and other professional advisors to achieve:

• Company turnaround
• Corporate restructuring; or
• Refinancing.

Where serious and sustained financial difficulties arise, it may be that some form of insolvency process must be considered. We will review all the options with you to achieve the best possible outcome for you, your shareholders and finance providers, whether this involves:

• Voluntary arrangements
• Administrations
• Liquidations; or
• Receiverships.

You and your fellow directors may have also have given Personal Guarantees to the Bank to secure overdraft and loan facilities. Where this is the case, you and your directors could face severe financial hardship, and even personal bankruptcy, if the wrong decisions are made in relation to your business' financial affairs. Gorvins' corporate recovery team will help you to ensure that the right decisions are taken at every stage, minimising the effect of your business' financial difficulties on your personal financial situation.

Legal 500 says:

            "The team at Gorvins is 'strong and knowledgeable'."