When any company is in financial difficulty and needs insolvency advice, it’s vital that advice is sought at the earliest possible stage. The earlier that tri group are brought in, the greater the prospect of finding a solution that will enable the business to survive; rescuing your business is always our first objective. We start by ensuring that we understand the reasons for the difficulties and seek to remedy them.
We’ll work with you to manage your cash and working capital, and to deal with the needs of key stakeholders such as bankers and major creditors. Then we work with you to identify and address the causes of financial under-performance and develop a strategy to bring about improvement.
If necessary we can use formal insolvency procedures such as administration or a company voluntary arrangement to provide protection from your creditors and negotiate legally-binding compromises. Even where the financial problems are insuperable and recovery is not viable, we’ll find the most suitable solution which provides the best outcome for all concerned, maximising the outcome for creditors and minimising the exposure of guarantors.
In some circumstances, it may even be possible for the existing management to be involved with the business in the future. We offer advice that is honest, transparent, competent, respectful and jargon-free, we don’t want to confuse you any further, we simply want to make things as simple as possible during what is always a difficult and challenging time. Here is our mini insolvency advice dictionary, to help you understand the meaning behind some of the terms you may already be hearing or seeing in correspondence:
Administration: Where we act as the insolvency practitioner, managing the business affairs of the company.
Voluntary Arrangement: Advising and drawing up a full or partial repayment agreement with creditors.
Receivership: Realisation and distribution of a company’s assets acting on behalf of secured creditors.
Voluntary Liquidation: Winding up the company when the Directors and shareholders have recognised its insolvency.
Compulsory Liquidation: Winding up the company which has defaulted when a court has decided it can no longer meet its obligations.
Dissolution: Handling the winding up of the company when it no longer has a trading future.
Reﬁnance: Examining the options of seeking financial help and facilitating in order to continue trading.
Individual Voluntary Arrangement (IVA): An (IVA) avoids the stigma of bankruptcy and is a powerful tool in dealing with personal debts.
Bankruptcy: Filing for bankruptcy on behalf of an individual and assisting with formal negotiations with creditors.
The team has vast experience in providing discrete insolvency advice, with a successful track record in handling assignments. From the smallest to the largest, from the straightforward to the most complex, across a wide range of industries and sectors, we guarantee there is way out, get in touch today, don’t put it off until tomorrow contact us today!