Business Rescue & Recovery Services

Independent Business Finance work closely with businesses of all sizes and we understand how stressful it can be when you are facing financial challenges. It can be hard to know what to do and where to turn. Every business is different and each industry comes with its own challenges. The future direction of your business requires thorough discussion and careful consideration of all available options.

Debt Solutions

There aren’t many businesses that always trade profitably and without any debt issues whatsoever, most businesses will at some stage have to deal with some form of financial difficulty. Whether that’s from suffering a bad debt from a key customer or your tax debts due to HMRC have become unmanageable. Sometimes a number of factors can all pile up at once causing cashflow difficulties and putting you behind on your payments and your business’ financial stability at risk.

We are often instructed by clients that are having financial difficulties and need to raise additional funds. We are experts in this sector and have a proven track record of sourcing funding for business which need an injection of working capital.

Our panel of lenders includes funders who have significant experience lending to businesses in such scenarios. Sometimes depending on the financial health of the company, including the total amount of debt as well as what creditor pressure is being received by the company, we can source appropriate funding solutions alongside a formal restructuring rescue process such as a Company Voluntary Arrangement (CVA). A CVA would protect the company from creditor action and affords the company a manageable repayment period of up to 5 years if needed to recover its financial position, potentially with an agreed write-off of unsecured debts.

We work with several expert restructuring professionals who we trust to deliver the most appropriate solution for each client’s circumstances. We only work with professionals who are appropriately regulated and authorised so you can rest assured that you will always receive the best advice.

Is your company in financial difficulty?

• Are you falling behind with payments?
• Are you being chased by creditors?
• Are you being threatened with a County Court Judgement (CCJ)?
• Are you being threatened with a Statutory Demand, or Winding Up Petition?
• Is HM Revenue & Customs chasing you via debt enforcement?

If the answer to any of the above questions is YES, don’t delay in getting in touch with us today. The quicker you take professional, independent advice the more options we have to assist you and help save your business before it is too late.

All our dealings are in the strictest of confidence. If you feel you would benefit from professional restructuring advice, one of our experts will be available to meet with you on short notice and guide you through the most appropriate solution for you.

Services and Products

Time to Pay Arrangements

A time to pay arrangement (or TTP) is a useful tool for businesses which are struggling with their debts to HM Revenue & Customs and need “time” to pay their outstanding debts. HMRC would typically request that payment of the outstanding amount is settled as soon as possible and in most cases within 12 months. There are occasions when HMRC would allow an extended period depending on circumstances.

We work with a panel of professionals who are experts in organising time to pay arrangements with HMRC. Also, we work with a variety of funders who will provide access to finance to support a TTP process.

Winding Up Petitions

If you have been served with a winding up petition it is important that you take professional advice immediately. Whilst there are a number of solutions which can still be put in place to ensure the survival of your business, time is of the essence and you need to act now.
Our panel of Restructuring & Insolvency professionals are experts in this field and are here to provide clear, straightforward advice. Also we work with a raft of funders who may be able to assist with financial support in such scenarios.

Company Voluntary Arrangements (CVA)

A CVA is a contract between your company and your creditors and is seen as a rescue procedure for companies which are facing financial difficulty. Once a CVA is in place, so long as you keep to your end of the bargain, then your creditors are prevented from taking any enforcement action.
A good CVA is supported by solid financial forecasts, which show that payments can be made into the CVA for the benefit of all creditors, whilst the company can continue to trade and meet all its current obligations as and when they arise.
A CVA can also provide for an agreed percentage write off in unsecured debt.
If you need breathing space from creditors and feel that your company may benefit from a CVA, don’t delay getting in touch today and one of our panel Restructuring & Insolvency professionals, who are experts in CVAs, will be on hand to provide clear, straightforward advice.

Administration

Administration is an insolvency procedure used when a company’s debts are greater than its assets and/or it cannot pay its debts as and when they fall due. Sometimes companies continue to trade during administration, under the control of the administrators, whilst a buyer is sought. The administration process is generally used for companies that have a larger asset base and when it would be more beneficial than a liquidation procedure.
If your company is insolvent and under pressure from creditors, it is important you take professional advice as soon as possible. Our panel of Restructuring & Insolvency professionals will be able to assess the financial position of your business and recommend the most appropriate solution.

Pre-Pack Administration

A pre-pack administration is used in certain circumstances and results in a transfer of a business’ assets from one failing company to a new entity, preserving continuity of the business, supply to customers and employee jobs. It is important that this process is undertaken by a qualified and licenced insolvency practitioner.
Our panel of Restructuring & Insolvency professionals are highly experienced in undertaking successful pre-pack administrations. Sometimes pre-packs will be undertaken in conjunction with the support of specialist funders, who are able to fund the ongoing business.

Creditors Voluntary Liquidation (CVL)

If your company is insolvent, your assets are outweighed by your debts and you cannot pay your creditors as and when they fall due – you must take professional advice immediately. If you continue to trade whilst insolvent then there may be legal actions against you for wrongful trading. It may be that you do have a valid underlying business – it is just the company through which it operates has failed, for example through suffering a bad debt meaning you cannot pay your suppliers or HMRC.

We work with our panel of Restructuring & Insolvency professionals who will be able to advise you on the most appropriate solution if your company is insolvent. If you require funding to purchase any of the company’s assets from a liquidator in a new company, we are able to source appropriate finance.