Insolvency is something no business owner or company director wants to have to deal with.
But its unfortunately a reality for many businesses and its always better to understand what can be done to salvage the company before having to resort to liquidation. In this article, were going to give you some of the options that are available if your company is faced with insolvency.
What are the Main Ways to Deal with Insolvency?
You have three main options available in case your company finds itself in a situation where it cant pay its debts. The first step should be to contact your creditors to see if you can work out an informal agreement. You can also take things a step further and enter acompany voluntary arrangement with your cred…
Read the full article at: https://www.bmmagazine.co.uk/in-business/advice/what-are-the-options-if-a-company-is-facing-insolvency/
