The key to avoiding insolvency is to seek professional help as soon as the first signs of difficulty appear. The experienced professionals at Business Advantage are able to assist in identifying problem areas, and suggest solutions to improve the position of the company. 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 financiers. In the case where many of the company's assets are sold such that it is unable to continue daily business operations a liquidation is necessary. A liquidator disposes of all the remaining assets of the company and repays creditors. In most cases the company ceases to exist upon liquidation, however, if there is some remaining debt there can be further ramifications.
In the event that liquidation or receivership is necessary, Crown Accounting Pty Ltd has the right specialist for you.
If your business is struggling under financial and operational difficulties, proactive action and action with insight is vital for avoidance or minimisation of the ramifications. Contact us today for an appointment and expert advice to aid your situation.