Insolvency Advice for Businesses in the UK

At Boardroom Punks, we take an innovative new approach to helping businesses. We aim to work on every financial solution possible before the insolvency practitioners are called in. If you are seeking advice to help you navigate the possibility of liquidation, be assured that we have your interests in mind. SMEs are the backbone of our local economy, and we want to ensure they are protected at all costs. Jobs, livelihoods, families, and futures are all interconnected with SMEs. The alternative approaches we offer are designed to protect both your business and lifestyle.

We have an elite team of financial experts that are serious about their trade. We have a variety of team members at Boardroom Punks with expertise in debt, VAT bills, business and project management, and government loans. Whatever advice you need regarding insolvency and liquidation, know that you can rely on having experts in your corner. We know how stressful the pressure of your enterprise being wound up can be, and we are here to offer you solutions to help you avoid the closure of your business. Whatever stage you may be at, the Boardroom Punks will do their very best to come to the best possible solutions for your company.

Not only do we have experience across the board, but our business model was founded upon our managing director David Morgan. In 2008 he received the news that his chain of opticians was trading insolvent. After battling with the liquidators and the loss of £250,000, Morgan dedicated his time to finding alternative solutions that would help with restructuring both his own business and the SMEs of the future. Today, Boardroom Punks is the solution that our director strived for, and we believe that we have the right tools in place to get any business back to a state where it can stand on its own two feet.

However, don’t just take the claims of expertise from ourselves. Our business experts have put their skills to the test in many different trading models. Beauty salons, haulage companies, decorators, and even jewellers have all needed the advice of Boardroom Punks. Whatever SME you are looking to salvage, know that our solutions have been tried and tested across many different businesses. Some of the cases we are currently working on include businesses in the fitness industry, window installation, and wine. We always encourage our future clients to reach out and speak to those who have worked with us, as they are the best proof of our success.

Insolvency is a daunting prospect, but it is not the end of the road. Usually, a business would seek out help for insolvency by searching the bankruptcy and insolvency register. Depending on where the business is in the UK, the insolvency practitioner will offer different guidance because of the differences in insolvency laws across each domain. The Boardroom Punks are adept at working with businesses across all areas in the UK, and we have experience with enterprises in England, Scotland, Wales, and Northern Ireland.

A company or an enterprise cannot declare insolvency without reasonable evidence of outstanding debt. Under the 1986 Insolvency Act, it is a criminal offence for a company to declare insolvency without the grounds for doing so. For a company to declare insolvency, it must have a clear record of the arrears, the time at which it has accrued, and the time at which it is to be paid. The declaration acts as a statement of truth for both the creditors and the insolvency practitioners.

Once the declaration of insolvency has been made, there will be an examination of whether the business can be saved or not. If the outstanding cannot be repaid, then the enterprise will be liquidated. In this circumstance, the assets, property, and any existing revenue will be sold in order to pay off the creditors. However, if there is a possibility of saving the enterprise in question, then the insolvency practitioners will look to explore different avenues to offer financial support.

Some of the most common examples include administration, pre-pack administration, financial solutions, or the negotiation of something such as a Company Voluntary Arrangement (CVA) with creditors. The Boardroom Punks have outlined what these are for free as we want to offer any of our potential clients complete transparency. They need to make the best decisions for their business, and we want to offer as much advice as we possibly can.

If you have either declared insolvency or are worried about the growth of your debt, then we are here to help you. All our solutions will be discussed after a forensic analysis of your business. Once we have made these examinations, we will be in a position to offer the best support available. Insolvency can be worrying for any business owner, but we understand what is needed to help you avoid the prospect of liquidation while keeping your business commercially viable.

With a free and confidential phone consultation, you can express any concerns surrounding debt you may have without any unnecessary pressure. If we believe that we can create an effective plan for your business, we will organise a meeting to analyse the problems in greater depth so that you can see how serious we are about saving the SME in question. Once the numbers are agreed upon, we will outline and execute the master plan that will allow your business to grow.

You are not alone during these difficult times, and the Boardroom Punks have your back.