Shaun Barton, partner at Company Closure, highlights the warning signs of a company insolvency.
When it comes to the impending, or actual, insolvency of a limited company, taking swift action is critical. Seeking the services of a business turnaround expert such as a licensed insolvency practitioner at an early stage could mean the difference between a company being able to be rescued, or one which has no option but to close down for good.
However, in order to ensure action is taken in a timely manner, company directors firstly need to be aware of what insolvency is, and secondly to be aware of the warning signs which often signal a slide into insolvency.
What is company insolvency?
Company insolvency can b…
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