A number of reasons and factors could see your business heading towards insolvency.
Some come with little warning, others with a bit more notice. It could be a poor decision internally, an external stakeholder issue or relationship breakdown, even a worldwide crisis.
The circumstances that lead to insolvency are unique to your business and situation. What is consistent is that it can be an overwhelming, emotional and fast-moving experience for all involved.
There are a number of options to owners and leaders facing insolvency, including: voluntary administration, liquidation and accessing Safe Harbour provisions, bankruptcy, personal insolvency and small business debt restructuring.
Our Grant Thornton insolvency teams works with business leaders, directors, banks and other lenders. Whatever your circumstance, taking an early and proactive approach when insolvency is on the horizon means you have access to more options to turn the business around and retain the most value for all stakeholders. We work – quickly – to understand the factors at play and insolvency options available and bring together a national team made up of experts that know your industry.
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