Company Rescue Surrey

28/09/2021

YOU CANNOT SIMPLY DISSOLVE YOUR COMPANY IF IT HAS A BOUNCE BACK LOAN!

We are receiving lots of calls from company directors whose companies are no longer viable, stating that their accountant has tried to dissolve the company, but it has been rejected.

If your company has an outstanding Bounce Back Loan the lender will NOT allow the company to simply be dissolved.

This is because the lender can only recover the money from the government IF AND WHEN the company enters a ‘formal insolvency process’ such as a voluntary liquidation. If the lender allows the company to be dissolved it will not be repaid by the government. The lender must issue a demand for repayment and if not repaid in full can issue a winding up petition in court (from this Friday 1st October for debts over £10,000) – this is known as a compulsory liquidation.

To avoid a court process and subsequent investigation by the Official Receiver directors need to seriously consider placing their company into voluntary liquidation. That means the company can be quickly closed and lenders can reclaim bounce back loans debts from the government.

Read more here on our website https://www.companyrescue.co.uk/guides-knowledge/bounce-back-loans-faq/
DON’T DELAY, ACT TODAY! Call us on 0800 9700539 for free advice.

28/09/2021

Will your bank wind-up your company to get a refund on your Bounce Back Loan?

Over 1.67 million UK businesses have been provided with government backed ‘Bounce Back Loans’ (BBL’s) and ‘Coronavirus Business Interruption Loans’ (CBIL’s) totaling nearly £80 BILLION to help support businesses through the Covid pandemic.

The government has stated that it expects over 25% (£20bn) of these loans to default.

When lenders provided BBL’s, which were 100% guaranteed by government, they could not take personal guarantees from lenders. Lenders were of course inundated with loan applications, and most were approved.

Lenders will only be refunded (by government) for loans that default if they can demonstrate they have done all in their power to recover the loans. Realistically, only an insolvency event can do that.
We are already seeing banks demanding full repayment of loans, within 14 days, where they believe incorrect information was stated on loan applications. If loans aren’t repaid, the bank can close your account and issue a winding up petition AT THE END OF THIS WEEK!

If your company cannot meet BBL or CBIL loan repayments you MUST seek professional advice!

We’ve been helping companies for 20 years – visit our website www.companyrescue.co.uk or call us on 0800 9700539 to get help.

22/04/2021

COMPANY RESCUE has been helping distressed company director for 20 years!

The Story So Far....

Back in 2000, Keith Steven was frustrated about the inability to reach distressed company directors and debtors. So in spring 2001, he purchased the domain name companyrescue.co.uk.

The first website in 2001 was built in a spare bedroom using an off-the-shelf package called 1&1, which incidentally is also still going today - what an achievement! You can see how it looked in the video below. Websites in those early days were pretty clunky, with ours being no exception!

That same year, Wikipedia was founded, which aimed to educate and distribute knowledge for free - something we also felt was important. How could directors make informed decisions when faced with insolvency, without understanding anything about what the terminology meant and what the options were?

Watch how our website has changed over the last two decades, along with major events over that period in this short video.
https://ksagroup.wistia.com/medias/x1q1ceorhb

20/10/2020

Well worth a look of you have a struggling hospitality business!

With so much bad news in the hospitality sector currently we thought it was about time to announce some GOOD NEWS!

We’re pleased to announce that Bar Restaurant Solutions has teamed up with KSA Group to make Hospitality Rescue an even more powerful force in the hospitality sector.

Jointly, we can address debt and creditor issues, improve practices, and create a simple, effective and efficient structure, allowing an ailing hospitality business space to breathe, recover and rebuild.

Our NEW 32-page guide entitled “Your Hospitality Business – Recovery and Building on Solid Foundations” is now available to download – FREE OF CHARGE.

The guide tells you about our experienced team (with over 55 years’ turnaround experience in the hospitality sector), important questions to ask yourself, establishing viability moving forward, how Hospitality Rescue can help YOU (including case studies of some of the clients we’ve worked with) and a large number of FREE helpful downloads.

Click the link below to access your FREE copy or call us today on 0845 519 4930 if your hospitality business needs urgent help now!

https://www.hospitality-rescue.co.uk/download-our-guide/

17/07/2020

Hospitality business owner/operators are facing tough times!

The London Stone pub and live music venue in Staines has raised around £8,000 through crowdfunding to help cover its costs during the pandemic

15/06/2020

29/05/2020

Another high street retailer with severe problems!

Monsoon becomes the latest fashion retailer to hit the news for being on the...

06/05/2020

The well-known Ash Vale firm went into administration at the end of April and the prospects of finding someone to buy it are "uncertain"

28/04/2020

More Coronavirus support from government for small firms!

The loans, which will have the interest paid by the Government for the first 12 months, will be available from 9am next Monday.

31/03/2020

23/03/2020

Business Loans for Companies and Businesses During The Coronavirus Crisis

The key help being offered to companies is something called the Coronavirus...

20/03/2020

Hopefully you'll find this page helpful!

Coronavirus (COVID-19) has meant that the Government, banks and other...