There are many indicators of insolvent trading such as reductions in stock or even bloated stock levels. But just because there are indicators does not mean that there is a real case of insolvent trading – it just may look that way.
Sometimes insolvent trading can be sorted out by a restructuring of debt. This is often the best way as it is often cheaper than a loan and the creditors have a good reason to help you as they are an investor in your business or at least a stakeholder.
However, some creditors may not see things that way. They may just think that you are just trying to squeeze out extra profit.
So in genuine cases where there is insolvent trading, there is often a need for the director to take hold of the situation and drive a deal forward.
The best way to do this is through a formal route that TaxGone can show you.
Call TaxGone on 01302 815846 and let’s put your company back on track.
TaxGone - Company Voluntary Arrangement - CVA Specialists
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