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Business Restructuring

Key Contact

Rick Smith

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Many small businesses have financial issues which mean closing the company and transferring the ongoing business to a new company free of debt is a viable option...

business man with headphones on laughing

Jerry (Company name withheld for confidentiality)

I approached Forbes Burton to help me out of a situation that I was not capable of resolving by myself. I was in desperate need of some guidance and advice which was given freely and willingly on a regular basis. I was kept informed of developments at all stages of the process, and at no time was I contacted by any of my Creditors – a real worry to me.

Start your business over

It’s no shock that for every 4 companies that start-up within the first year 1 will have closed, within the first three years 2 will have closed.

That’s only a 50% chance that a new business will survive past its third year, not a great prospect when it’s your livelihood on the line.

There are of course plenty of indicators such as the insolvency 3-point check-list which can help a business owner recognise when a business is starting to have problems, but what happens when those problems pop up?

There is plenty of information around about how to approach problems in a positive way, but let’s assume the worst case scenario, your business is faced by unpayable bills, your finances are deeply in the red, what happens next?

If your business is the only income you have then outright closure will be untenable, but there is a solution…

Is this right for you?

Do you want to know if Restructuring might be suitable for your company?

Get some FREE, confidential advice on Business Restructuring.

Call us on 0800 975 0380 now (free for mobiles and landlines) and speak to one of our business advisers, or click here to complete our enquiry form.

WARNING! Without the procedure being followed correctly directors may become personally liable for the indebtedness of the company and you may face a fine and possible prosecution.

Business Restructuring

It is not uncommon for a successful business to be brought to its knees by unexpected events, such as the COVID-19 pandemic or Brexit.

In these cases, the company may need to take on debt in order to survive. However, if the debt becomes too much to service, restructuring may be the only option. This is because the business itself may still be viable, but the debt is not.

By restructuring your failing business, you can continue to trade within a new business, even possibly beginning the new business with assets of the old, bought for the new business at more affordable costs.

Business Restructuring can help overcome start-up failures but they have to be handled in a very specific way in accordance to the legal-boundaries which govern all businesses.

By restructuring your business;

retain staff, ensuring the new business has the skills to get going
release yourself from bad debts
rid yourself obligation of bad contracts
retain loyal customers ensuring future income
retain brand awareness, reduces the costs of ‘start-up’ for the new company

What is Business Restructuring?

Restructuring a business can mean many things, but when a business is in difficulty, it often involves setting up a new company with the same directors and shareholders.

The new company then takes over the operations of the old company, while the old company is closed down and its debt is settled. This is done when the business itself is still viable, but the company itself is not.

The law still applies

This is of course not a way to simply illegally remove unfavourable conditions, the laws for closure and company formation all still have to be attended to duly.

It is however a good way of ensuring that you can continue trading, continue earning an income and ensure that you as a business owner aren’t put into a situation which if unchecked could lead as far as court imposed fines or even criminal enquiry.

If you have a failing business, but cannot bear the thought of closure due to loss of income, why not consider investigating a restructure, it could save you thousands of pounds in debt-fee’s and running costs.

In the long term it could ensure that your business flourishes and grows to return an even higher income for yourself and anyone you employ.

How to get started

Does your business qualify for Restructuring?

Can your business be restructured? Find out using our free online Business Restructuring test →

Call us for free advice

If you aren’t sure what to do you can call us on 0800 975 0380 for some free and confidential advice.

We can help you understand if restarting your company is a viable option for you – or whether there’s a better solution available. We’re dedicated to giving you the best advice for your unique position.

How we work with you

With over 60 years worth of experience, our team are well placed to deal with the most complex of business issues. Understanding the landscape is critical. We have a wide range of tools at our disposal to effectively assist you and your business. Let us help you deal with any urgent and difficult situations your company is now facing.

Step 1

Discover our services

Take a look through our free resources, case studies, and reviews from our clients. You can then decide whether you would like us to handle your problems with one of our range of solutions.

Step 2

Get in touch with us

We do not charge for any initial discussions or meetings. Call us on 0800 975 0380 or email us on [email protected] safe in the knowledge that your conversation will be completely free of charge and no-obligation. We only charge once we have been instructed by you.

Step 3

Talk with our advisors

A cornerstone of our work ethic is confidentiality. We will discuss your options with complete confidentiality while we provide you with the correct advice. We absolutely will not discuss or pass on your details to any other parties without your express consent.

Step 4

Understand your options

We'll discuss the various options available to you, again this is free of charge. You can then decide if you want us to help you. All of our fees are clearly documented and therefore you don’t need to worry about any hidden costs. Forbes Burton is recognised for our clear, honest, and professional advice.

Step 5

We prepare your solution

If you decide to let us help you and your business we start work straight away, taking the stress and hassle away from you and giving you peace of mind. We'll let you know what is happening at all stages so you know everything is being taken care of.