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Insolvency

The key to avoiding insolvency is to seek professional help as soon as the first signs of difficulty appear. The experienced professionals at PMCA are able to assist in identifying problem areas, and suggest solutions to improve the financial position. Timely and expert advice may be able to save your business from liquidation or receivership.

Receivership entails someone being appointed to raise funds within the company to repay creditors. In the case where so many of the businesses assets are sold, it is unable to continue operating, a liquidation is necessary. A liquidator disposes of all the assets of the business and repays creditors. Upon liquidation the company ceases to exist.

If your business is struggling under financial and operational difficulties, proactive and insightful action is vital for avoidance or minimisation of the ramifications.