My Business Is Failing – How Can I Save It?
My Business Is Failing – How Can I Save It?Licensed Insolvency Practitioners With National Coverage
Chris Ferguson our Director of Insolvency heads up our Newcastle Office.
Chris joined RMT Accountants & Business Advisors as Head of Recovery and Insolvency in 2019 and was promoted to Director in 2023. He is now the Director of Insolvency at KSA Group.
Prior to this, Chris spent almost two decades working in senior roles for some of the UK’s largest professional services firms, including Deloitte and EY focusing primarily on corporate restructuring.
As well as managing RMT’s formal insolvency appointments, he has extensive corporate advisory experience including cash flow management, strategic option reviews, debt funding strategies for distressed businesses and exit management for lenders and stakeholders.
Chris is a licensed insolvency practitioner, a fellow of the Association of Chartered Certified Accountants and the former North East chair of insolvency and restructuring trade body R3.
If the company cannot be saved, and you do not believe that a 3-5 year extension on your debts is affordable, via a CVA, then we can conduct a quick and professional liquidation. It is important to act if you believe that your company is insolvent. Failure to act can leave you exposed to personal financial risk. As above, you can call Chris direct and he can explain the process. Once you appoint us, we can stop creditor pressure and put the company into voluntary liquidation in 4 weeks. After the creditors meeting we take over and your duties as a director cease.
An MVL is a voluntary procedure to wind up the affairs of a SOLVENT company. This means that cash and assets can be distributed to the “members”. See this page about our services
The total costs do rather depend on the amount of work involved. Obviously, the more creditors there are and the more complicated the picture in terms of loans, property, company structure etc then the cost will be higher but for a simple liquidation with 1 or 2 creditors start at £4000 + VAT
My Business Is Failing – How Can I Save It?
My Business Is Failing – How Can I Save It?