Advice for Companies and Directors During the Coronavirus Pandemic

Many Companies Have Run into Severe Difficulties Almost Over Night

Our Insolvency Practitioners and business turnaround specialists have been talking to many Companies, across a range of sectors whose business has disappeared over night as a result of the Coronavirus Pandemic, yet until a couple of weeks ago these were successful Companies which were profitable and many were growing. Now they face overhead bills but no income.

The UK cannot afford to lose these Companies. We are Insolvency Practitioners and our team of specialists want to help as many companies survive as possible – but how? In addition to some key points, below, we also explain why we believe that the Company Voluntary Arrangement might prove to be a good solution for some companies.

Here are some key points

What About Staff?

How do you tackle staff costs? This is going to be one of the most difficult issues for Companies. Legislation means those Companies employing over 20 people cannot simply lay people off or make them redundant without consultation – generally over a 28 day period, but can the Company survive that log?

Then of course there is the issue of suppliers who desperately need invoices paid.

Company Voluntary Arrangements – A Possible Solution

One solution we have in our armoury, as Insolvency Practitioners is a Company Voluntary Arrangement.

We believe CVA’s could enable Companies to survive, by effectively “mothballing”  them until better times return. Click here for our quick guide to CVAs.

Two key points are:

These are unprecedented times for businesses and people everywhere.

Contact our Licensed Insolvency Practitioners for help and advice

Please contact us or email us at enquiries@antonybatty.com and we will help you in anyway we can.

Share this page...Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on LinkedIn
Linkedin