Crisis
- Have you lost your Finance Director
- Is your overdraft at its limit or breaching it
- Are suppliers demanding payments on account?
- Are you on stop with suppliers?
- Are you able to pay your HMRC debts?
- Are creditors threatening legal action or winding-up petition?
- Are your rent and rates in arrears?
- Are your landlords becoming more difficult?
- Are you getting letters from Insolvency Practitioners?
- Have most of your key staff left or being head-hunted away?
- Has the culture deteriorated into a downward spiral?
- Has the energy been sucked out of the business?
These are all early warning signs that your business may be heading for a crisis situation.
My business is in crisis-what should i do?
Without any remedial action in distress the business will accelerate towards the inevitable crisis. When cash runs out and debts mount, then business cannot meet its liabilities, including paying creditors, HMRC, rent or wages.
It is also highly unlikely to be able to raise any additional money as most financiers would see it has throwing good money after bad. Unless, the business owners and management team can show it is willing to face up to the problems and take effective action to fix it.
Expert advice and help is essential to rescue the business. The sooner, the better! Get in touch to find out how we can help.
READY TO TALK?
If you'd like to talk to us or discuss any of our services please call us on 07866 767967 email us contact@claritytransformation.
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