If you think that your partnership is going bust then
you need to act early, as there are many good alternatives to the kind
of disaster that could occur if you do nothing at all.
It is thought by the Forum of Private Businesses that
as many as 200,000 small firms will go but in the year 2009 to 2010
(source: Times Online) and that as many as 5% of all small concerns
will face extinction. But to merely say "My partnership is bust"
is to be defeatist in the face of a massive array of legal instruments
available to help you.
The Partnership Voluntary Arrangement is, in particular,
of particular use to partnerships which face difficulties. PVAs, like
their counterparts CVAs and the much better known IVAs, are designed
as a means of escaping the stigma and negative fallout of bankruptcy
The government and
all larger businesses don't want you to go under (despite what it may
seem from the cash flow records!) as it is not in anyone's interest
that your partnership should go bust. That is the reason why there are
so many means available to get out of your present difficulty.
If you would like
to talk about your present problems - whether your partnership is going
bust or whether you think that it is going to further down the line
- to a specialist with 17 years corporate insolvency experience, then
enter your details into the web form below for a no-obligation chat.
if you need help with personal debt (rather than business related debt)
go to our free debt
management plan application form.
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