My business is in trouble – What options do I have?

The two main options are Liquidation or Voluntary Administration.

There are a number of other options to consider, including a compromise with creditors, selling your business, looking for additional capital and so on. We assume that you have explored these options and have not found the answer you are looking for. These options are not to be taken lightly, and may result in you losing all of your investment in your business, and possibly walking away with a substantial debt and possibly personal bankruptcy.

It is also very important to understand that, once you start considering these options it becomes increasingly likely that you will proceed down one or both of these tracks. If you feel that your company is not going to make it, the sooner you call in a liquidator or an administrator, the better the result for all parties, including yourself.

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