Coronavirus & Business Failures

It is stating the obvious to say that the coronavirus pandemic is causing a lot of uncertainty and worry for many businesses around the world. 

Companies and individuals are facing daily concerns around the situation as it unfolds, and it is having a huge financial impact on many. 

Businesses are finding themselves unable to trade in the way they are used to and finding restrictions and limitations imposed on their sector which are in turn having a massive impact on the ability of their company to be profitable and pay bills as they fall due.  

Some companies are finding themselves in the dreadful situation whereby they need to make decisions about their workforce, leases on premises they occupy and no longer require or can no longer afford. 

Never in our lifetimes have we seen such sudden and in some cases catastrophic changes to general business practices over such a short period of time and in such an unexpected way. 

Your business is unique, you are the expert but we are experts in understating restructuring and where necessary the insolvency process. 

The initial advice you will receive is free, and at Revive all advice will come from Claire, the Managing Director and Qualified and Licensed Insolvency Practitioner. 

Claire has a proven track record in developing innovative solutions and she will be happy to review your position with you. 

At Revive we take pride in helping businesses and supporting them to a solution that is right for them, but we would always encourage you to seek advice as soon as you are unsure or aware of a problem. We find that the earlier a company reaches out to Revive for advice the better the outcome all-round. 

This can be through liquidation or administration.  Sometimes it may be appropriate to do a pre-ack liquidation or a pre-pack administration which will allow a new business to purchase some of the assets of the failing one.  We will make sure that you are well-informed of this option and are happy to discuss this should it be appropriate. 

Contact Claire Foster on 01302 965485 or request a callback at a time to suit you using the forms on our website, and we’ll get back to you.