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how do i close down my business
14 September 2020
Category Clarke Bell News

The success of the “Eat Out to Help Out” government scheme is unfortunately unlikely to be a complete rescue package for every company in the hospitality sector, given the serious challenges they are facing.

Our Senior Partner, John Bell, has written an article for CLH Digital – and in it he goes into detail why the scheme won’t be a recipe for success for all restaurants due to the sheer scale of the financial crisis caused by the on-going pandemic. This has been coupled with a number of other contributory factors, including:

  • A steady decline in consumer spending.
  • An over-saturation of restaurants.
  • The mounting pressure to compete with rival chains and online delivery firms.

Restaurant insolvency specialists

In the article, John talks about the many restaurants that are facing financial difficulty – with the owners looking for advice on how best to deal with the situation. 

He discusses the various insolvency options available to company directors – including a Company Voluntary Arrangement (CVA) and a Creditors’ Voluntary Liquidation (CVL).

If you are the owner of a restaurant which is having cashflow problems, we can help you find the best option for you.

Contact us on 0161 907 4044 or [email protected] 

You can read the full article on page 18 here: https://issuu.com/clhnews/docs/clh_digital_issue_23/2?ff

If you are worried about your business or just want a (free) no obligation chat, contact Clarke Bell on 0161 907 4044 or [email protected] today. Our Licensed Insolvency Practitioners will provide you with the best professional advice for your situation.

For your free expert advice 0161 907 404

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