Our Services
Rendle & Co is a firm of licensed insolvency practitioners and chartered accountants with many years’ experience in business recovery, turnaround and insolvency.
We understand the stress, difficulties and motivations of individuals struggling to juggle business, financial and other commitments. It is our job to find the right solution for you and your business.
When a business begins to experience financial problems, liquidation does not always have to be the end result.
If you are able to recognise the difficulties and seek expert professional help early on, then there are other options that may be available to you.
Rendle & Co have guided businesses and directors through many different turnaround scenarios and have vast experience in identifying the core issues and problems to assist you through those difficult trading times.
Where circumstances are more severe two insolvency procedures administrations and company voluntary arrangements could be used to help you and your business through difficult trading times and recover your business to the point where you are again able to trade independently and profitably.
The appointment of an Administrator provides you and the business with immediate protection, meaning that creditors are prevented from taking any action without the permission of the Court.
Administration is a temporary procedure designed to allow your business to continue to trade with a view to rescuing the business as a going concern or achieving a better result to creditors.
There is a one-year time limit within which the Administration must be concluded, however this period can be extended with the agreement of the creditors or the permission of the Court if more time is needed to achieve the required results.
We will work with you to achieve the end goal of your company being returned to the control of you, its directors and its management. Where this is not possible, we will formulate proposals to provide the best possible outcome for all the stakeholders in the business.
Another common method of corporate rescue & recovery is a Company Voluntary Arrangement or CVA.
This is a procedure which enables you to put an agreement to your creditors, rather than the Court, under which the creditors agree to accept a certain sum of money in settlement of the debts due to them. You do not need to pay all your debts in full.
Rendle & Co will assist you in agreeing the desired outcome of the Arrangement and produce a proposal for your creditors. Once the Arrangement is approved, it is legally binding on the company and all of its creditors. Rendle & Co will supervise the entire process from the onset, drafting the Proposal, liaising with creditors to obtain approval, dealing with all regulatory matters and assisting you with any issues arising. You remain in control of the business throughout the process.
A CVA is extremely flexible as it is based upon the terms of the proposal agreed by the creditors. For example, it may be agreed that the company will make delayed or reduced payments of debt, undergo capital restructuring or arrange an orderly disposal of assets.
Upon satisfactory completion of the Arrangement the company may resume its usual trading practices or be dissolved depending upon the circumstances and your wishes.
Contact Rendle & Co today for a free, confidential consultation. Our experienced team is here to help you explore tailored insolvency and corporate recovery strategies that can set your business back on track.
