As a Director, once you realise your Company is in financial difficulty you should immediately seek advice from licensed Insolvency Practitioners. Abbey Taylor is qualified to advise you.
We understand the pressure you will be feeling in trying to make the right decisions for your Company. The earlier you contact us, the more options may be available to you which might give your business a better chance of survival.
It is possible that a company can continue trading with the help of an insolvency procedure which will protect the company from its creditors.
Please remember that, in certain circumstances, you could become personally liable for your company losses and be disqualified from acting as a director for another company if you continue to trade.
Seek professional advice. Call Abbey Taylor.