BUSINESS RECOVERY SERVICES

Businesses facing trading difficulties may effect a recovery by commissioning an Independent Business Review upon which a business plan can then be constructed. In many cases a review from SKSi at an early stage allows relatively small pragmatic changes to be made that allow an otherwise healthy business to continue to trade and prosper.

Administration is a true corporate rescue process aimed at saving the company itself. But if a company cannot be saved, Administration may also be used to produce a better outcome for the creditors than Liquidation.

A CVA is a deal offered to creditors where they are asked to accept a proportion of their debt in final satisfaction. A CVA can be proposed without the company first going into Administration (known as a “stand-alone” CVA), although this is relatively unusual. Administration is often used to provide time and protection from creditor action whilst a CVA proposal is put together.

Voluntary Liquidation is the legal process used when a company’s directors themselves decide to wind-up a company’s affairs. Unlike Compulsory Liquidation, neither the Courts nor the Official Receiver are generally involved in placing a company into Voluntary Liquidation.