Business Insolvency

Running a business in the UK is hard. Running a successful, profitable business is even harder.
With almost 60% of all businesses failing within the first five years, getting the right help and advice
is vital to making your business a success story.

At Irwin & Company, we want nothing more than help you succeed. Keeping and growing your
business is our first priority, and if a successful turnaround can be achieved then we will help you to
do just that.

We sit down with you and consider every aspect of your business, and together we look for ways
that could generate improvements in your cash flow and profits.

Corporate Recovery, therefore, is exactly as the name implies – the taking of positive and practical
steps to restore a business to health and profitability.

Where a turnaround is not feasible, Irwin & Company will utilise highly creative and imaginative uses
of established insolvency practitioner procedures, such as administration and company voluntary
arrangements, in order to achieve a positive outcome for the benefit of all parties.

Bankruptcy

Bankruptcy is a complicated and multifaceted decision for a business or individual that should not necessarily be avoided out of fear, but nonetheless should not be taken lightly.

It can be a good solution for clearing unpayable debts, but the short and long-term consequences must be considered. Bankruptcy can affect more than your business; it could mean a loss of your personal assets and even your home. Additionally, many kinds of debt are not covered, and would still be owed to their respective creditors.

Irwin & Company has a wealth of experience dealing with bankruptcy and guiding individuals through the process with plain language and our renowned down-to-earth approach. It isn’t always the best approach for everybody, and there are alternative options that we can talk you through.

Our experts can dispel the myths, clarify the processes, and empower you with the right information when a choice needs to be made.

Personal Insolvency

Dealing with individual financial issues can feel isolating and insurmountable. We know how it feels, and we know how to help.

Personal insolvency is the state of being unable to pay your debts when they’re due. Many of us enter into debts all the time, quite often on purpose. The issues arise when we can’t keep up, either through poor financial management or factors outside of our control.

Debts need not rule your life. Irwin & Company work on a case-by-case basis, and we will understand your situation fully before supporting you with our tried and true approach to helping individuals come to the right arrangements.

Our team of licensed insolvency practitioners are waiting with an empathetic ear and a confidential, respectful approach to helping you navigate your insolvency.

Corporate Recovery

Sometimes businesses, for one reason or another, might find themselves struggling to turn a profit. Irwin & Company offer a corporate recovery service to help guide your organisation back to where it needs to be when financial difficulties arise.

Corporate Recovery is the process of receiving advice and assistance to resolve financial challenges a company is facing. The overall aim of corporate recovery is to avoid the formal insolvency process by implementing plans to restructure finances.

Our experts will go through every key aspect of your business with you, identifying potential actions that could steer you back into profitability. Our goal is to help you improve your finances whilst there’s still good time to do so, avoiding corporate recovery – or more urgent actions – down the line.

Administration

In common parlance, going into administration has become synonymous with failure and collapse. This need not be the case, especially under the guidance of a highly professional, fully qualified and licensed insolvency practitioner from our team.

Administration occurs when a company desperately needs rescue from insolvency. It involves passing control of the company to an administrator, which can be a daunting and difficult decision. The administrator will then do what they can with the company’s assets to pay off creditors as quickly and smoothly as possible.

It’s a lifeline for many insolvent businesses, and in our hands, it could be the difference between a new day for your business, or an unfortunate end (i.e. liquidation).

Irwin & Company can help your company before it’s too late.

Individual Voluntary Arrangement

If you think there might be a solution that can be cordially worked out between you and your creditor(s), consider an IVA.

This alternative to bankruptcy is a formal agreement that allows a debtor to pay back their amounts over time. Under the guidance of a licensed insolvency practitioner, a proposal is drafted for involved creditors and a solution is reached to which both parties can agree.

IVAs can also come with some added protection when the threat of legal action occurs, as interim orders can prevent any further action being taken by creditors. Despite this, IVAs can be more costly, time-consuming, and risky a form of insolvency than bankruptcy. As with all services offered by Irwin & Company, an in-depth chat with our experts will highlight everything you need to know.