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Distressed businesses

More than 100,000 businesses in the UK fail each year. Many directors can find themselves at the helm of distressed businesses through no fault of their own. When operational problems and external parties start to dictate how your business operates, it can be difficult for directors to regain control of their company.

If you fear that you may be operating a distressed business, the first thing you should do is seek help and advice from the experts. It is important that you take the right steps, as quickly as possible, as it could mean the difference between a rescue for your business or closure for example by a winding up order.

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Warning signs - business in distress

  • Problems with the company cash flow
  • Souring relationships with creditors
  • Difficulty obtaining credit
  • Increase in borrowing levels
  • Declining profits
  • High levels of stress amongst directors and employees
  • Banking facilities withdrawn

One or a combination of may spell immediate danger for your company.

Here at Stephensons we have been successfully helping distressed businesses turn their fortunes around for many years. Our legal experts can provide an assessment of your business, and highlight critical areas to address. 

We are one of the fastest growing legal practices in the North West of England, recommended by The Legal 500 in several areas, and a number of our solicitors have been acknowledged by Chambers UK as ‘leaders in their field’. 

To find out more about how Stephensons can help pull your distressed business back into the red, get in touch with us today on 01616 966 229.

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