Help me save my business
When a business suffers trading losses or general cashflow problems, those running the business spend an increasing amount of their time fire fighting cash problems and less time focusing on the way out of the problem.
At Portland we have huge amounts of experience in helping relieve these pressures and helping to get you focused on the way out of the downward spiral.
There are several simple ways which enable us to help relieve you from the cash flow pressure:
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Handling creditors
We can talk to key creditors on your behalf, explaining the situation from a professional’s point of view and seeking their cooperation to help you manage your cash flow to implement an informal rescue plan. Most creditors are willing to cooperate if they believe they will get paid even if they have to wait.
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Viability review
If there are concerns as to whether the business is viable, we can help by carrying out a viability review. This is a report which is used to identify weaknesses in the business and how those problems can be overcome.
If the business is considered to be viable, perhaps with some strategic changes, the viability report can be used to help refinance the business as it will give potential funders the answers to questions they will ask prior to agreeing to put new finance in place.
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Creating a formal rescue plan (CVA)
We can put together, on your behalf, a formal rescue plan known as a company voluntary arrangement that can be made binding on all creditors, to give you the breathing space you need and possibly reduce the overall amount you need to pay back.
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Protection with an administration order
We can obtain the protection of administration which automatically stops all legal proceedings including debt recovery actions such as County Court Summons, Bailiffs, Landlord Actions, Winding Up Proceedings and as a result this provides you with a breathing space to determine how best to proceed and protect the business.
