Corporate recovery, don’t follow in the footsteps of Colin Hendry

March 11, 2012

Corporate recovery advice can help individual directors whose assets may be linked to their business – it isn’t just isolated to the company’s welfare. If you are the director of a business that goes bankrupt, it could have a huge impact on you and your family. Take footballer Colin Hendry, who was recently declared bankrupt. His financial situation and business interests have been left in tatters, as have the effects it has left on his family. Could he have avoided this or at the very least reduced the severity of its impact with sound insolvency advice.

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Use insolvency advice as prevention not just a cure

March 9, 2012

Many businesses have been faced with seeking insolvency advice as the tough economic climate forces many companies out of business or at the very least into financial crisis.

Official statistics from the Insolvency Service revealed that during 2011, there was an increase of between 2% and 4% of businesses going into liquidation, when compared to the year before. The figures for UK businesses were in contrast to that of individuals.

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Corporate insolvency advice from tri group – how we will improve your chances of survival.

February 3, 2012

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.

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Misleading creditors might not be a good idea!

February 2, 2012

If you’re chasing recalcitrant company debtors this may be a useful case to have up your sleeve.  For directors of debtor companies it’s a clear statement that they can’t simply disregard their creditors and hide behind the security of the limited liability of their companies.

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Pre-packs: no change after all

January 5, 2012

The government has today announced that it will not be changing the legislation on pre-packs in administrations after all. Pre-packs, or pre-packaged business sales, have always been controversial. In essence, they involve placing a company into administration and the business being immediately sold, often to the current management.

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Don’t wait until you are in deep water to get insolvency advice

January 3, 2012

A business may need insolvency advice or be considered insolvent if it doesn’t have sufficient assets to cover its debts, or it is unable to pay its debts as and when they are due. If you monitor your businesses actual performance against your budget and the cashflow forecast regularly, this will give you an early warning of potential problems. You can then take action to avoid insolvency.

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BSCR Name Christmas Charities

November 15, 2011

Rather than send Christmas cards, each year tri group (formerly Burton Sweet Corporate Recovery) makes donations to charity. This year, all members of the team were asked to nominate the charities which we will support.

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