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Is your company struggling with debt?

No matter what the size of your company or the reason for your business debts, cash flow problems are difficult and stressful for company directors.

At Clarke Bell, we provide professional and affordable company debt solutions tailored to you and your company. We’ve worked with thousands of company directors from multiple sectors, to find them tailored company debt solutions.

As Licensed Insolvency Practitioners, we can help you to get back on track and give you peace of mind with the knowledge that you have fulfilled all your legal obligations as the director of an insolvent company.

Our company debt solutions

Below is a brief overview of the main services we offer directors of a company which is facing severe financial problems.

CVL

A Creditors’ Voluntary Liquidation (CVL) is the process in which an insolvent company is formally placed into liquidation. Going down this route means your company will cease to trade, but it is almost certainly better to go down this route rather than to wait for one of your creditors force your company into compulsory liquidation.

A CVL acknowledges your legal duties as the director of an insolvent company. You will then be able to have a fresh start – perhaps getting a PAYE role in another company or starting up a new business.

CVA

A CVA (Company Voluntary Arrangement) is a process where your insolvent company enters into a formal agreement to pay its creditors a sum of money towards what it owes. There is typically a reduction in the total amount that is paid back to the company’s creditors, and duration of the CVA is typically 5 years.

The company would continue to trade. So this option is only viable if it is believed that the company can become solvent again.

Pre-pack admin

The typical situations for using the pre-pack admin option are:

  • the company has cashflow problems
  • the company can’t afford to pay its creditors
  • there is a possible buyer for the business
  • there is a realistic likelihood that the purchasing company can make a success of the business
  • the business’s value would decline if it was first placed into some form of insolvency procedure and then marketed for sale
  • liquidation is not an option
  •  
    However, this option is only available in certain circumstances.

Business rescue

Even if your company is struggling with late payments, increased overheads or a dip in market conditions, you may still be able to turn the situation around without the need of an insolvency solution.

However, it is always best to seek professional advice to make sure that you are not putting ‘good money after bad’.

Company debt solutions with Clarke Bell

At Clarke Bell, we can give you free and confidential advice, and will recommend the best course of action for you and your company to take. 

We are award-winning Licensed Insolvency Practitioners and have been trading since 1994. In that time, we’ve helped thousands of company directors to deal with their business debt problems – with our affordable insolvency services.

If you would like to discuss your company’s situation, contact us:

Tel: 0161 907 4040

Email: [email protected] 

More information

Creditors' Voluntary Liquidation
Company Voluntary Arrangement
Pre-pack administration
Business rescue

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A North West-based Estate Agent had been trading successfully for a number of years, with turnover growing steadily year-on year, until the Credit Crunch arrived. Then things rapidly changed for the worse. The failure of Northern Rock had an immense effect on property sales throughout the country. Banks became reluctant to lend and customers were…

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