Our Services

Rescue & recovery

It is a well known fact that many business failures could have been avoided if the owners had taken the right advice at the right time. Business collapse can have a dramatic impact on the owners, staff and investors. Whenever a business is in trouble, whether due to bad debts, cash-flow problems, reduced demand, excessive borrowing or lack of capital, the first instinct of most managers is to cut overheads. In many cases this is a sensible approach but if the cost-cutting precludes paying for professional advice then survival will be jeopardised.

All too often directors who fail to act when problems arise find themselves at risk of committing offences under the Insolvency Act. Fraudulent trading, misfeasance, wrongful trading and preferential or undervalue transactions can occur without criminal intent, but the penalties are the same whether the offences were deliberate or not. Disqualification may be the least a company director has to face if they are convicted.

The key to business survival is for owners or directors to seek professional help as soon as the first signs of difficulty appear. Often there is a genuinely profitable core to the business and with timely advice the slide towards receivership or liquidation can be averted.

R A Clement Associates Chartered Accountants have wide experience as company doctors and our trained professionals can undertake a range of remedial measures. We can identify problems and make recommendations to improve profitability and cash-flow. In some cases a corporate or individual voluntary arrangement can be arranged which provides time to trade out of difficulty. If all measures are in vain and the business has to be wound up we can advise and assist with the liquidation and facilitate the disposal of assets and goodwill.

Whether your business is large or small, if you have any worries about its performance our sincere advice is to act now. Arrange regular business health checks with R A Clement Associates and we can identify potential difficulties well in advance. Do not hope for the best and see what happens but act to get the help you need in good time.