Fortis Business Rescue

Fortis Business Rescue Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Fortis Business Rescue, Consulting Agency, 683-693 Wilmslow Road, Manchester.

Fortis Business Rescue are firm of business turnaround specialists that provides industry leading, nationwide advice and services to businesses and individuals that are facing financial and operational problems.

Another outstanding review! We're here to help.The initial conversation is free and strictly confidential.Send us a mess...
11/04/2023

Another outstanding review! We're here to help.

The initial conversation is free and strictly confidential.

Send us a message, call us on 0161 694 9955 or email [email protected].

With Fortis, you're never alone!

Voluntary Liquidation Vs Compulsory Liquidation Though it’s never an easy decision, you will be in a far better position...
06/04/2023

Voluntary Liquidation Vs Compulsory Liquidation

Though it’s never an easy decision, you will be in a far better position if you opt for voluntary liquidation over compulsory liquidation.

All in all, compulsory liquidation will take far longer than voluntary liquidation, and if you’re already in a high-stress situation, why risk adding more?

Voluntary liquidation is the easiest route and will still leave you with some control over the process.

What to do next?

If liquidation resonates with your company’s current financial position, it’s time to get in touch with the experts at Fortis Business Rescue.

We are here to listen and, most importantly, help you through this difficult time.

The initial conversation is free and strictly confidential.

Send us a message, call us on 0161 694 9955 or email [email protected].

With Fortis, you're never alone!

What happens during the liquidation process? Depending on your business operations, you may find that you can complete t...
04/04/2023

What happens during the liquidation process?

Depending on your business operations, you may find that you can complete the liquidation and winding up process in a matter of weeks.

Usually, however, you should expect liquidation to take between 3 – 12 months.

Once a liquidator is appointed, they will commence with specific steps to complete the winding-up process.

· Asset valuation and sale – what assets does the company have, and what can be sold to repay creditors? Unfortunately, in most cases, creditors will be left unpaid due to a lack of saleable assets.

· Understanding staff issues – are there employees that need to be made redundant? The liquidators will assess employee claims and whether redundancies need to be paid out. They may need to advise the Redundancy Payments Service to claim from the National Insurance Fund if the company cannot afford to cover redundancy pay outs.

· Paperwork and creditors – understandably, there is a lot of paperwork involved in winding up a company, mainly when reckoning creditors and monies owed. This can be one of the most time-consuming aspects of the liquidation process.

Speed up your liquidation process and remove the stress by speaking with Fortis.

The initial conversation is free and strictly confidential.

Send us a message, call us on 0161 694 9955 or email [email protected].

With Fortis, you're never alone!

How long does it take to wind up a company via liquidation? There is no exact answer to this question as it largely depe...
30/03/2023

How long does it take to wind up a company via liquidation?

There is no exact answer to this question as it largely depends on the structure of the company and the specificity of the problems at hand with the business.

If you have been ordered by the court to liquidate your business, you should expect to have a liquidator appointed within two weeks.

This process may be as little as seven days if 90% of shareholders accept short notice following a statutory notice from creditors.

If you seek voluntary liquidation, it is up to the directors and shareholders to appoint an appropriate liquidator to begin the winding-up process.

Looking for liquidation advice? Speak with Fortis.

The initial conversation is free and strictly confidential.

Send us a message, call us on 0161 694 9955 or email [email protected].

With Fortis, you're never alone!

What are the methods of liquidation? When you’ve made the strenuous decision to close your company, you need to consider...
28/03/2023

What are the methods of liquidation?

When you’ve made the strenuous decision to close your company, you need to consider your liquidation options to achieve this.

The liquidation options available to you are entirely dependent on the position you are in. Are you choosing to wind up your business voluntarily, or do you have no choice but to close your company due to creditor pressure?

The two variations of voluntary liquidation are Members’ Voluntary Liquidation (MVL) and Voluntary Liquidation. MVL is a process by which the company's shareholders or directors opt to put a solvent company into liquidation at the end of its life.

This is usually due to business owners pursuing different ventures or retiring. This option allows business owners to benefit from tax reliefs such as the entrepreneur's relief at 10%. Voluntary Liquidation is when a business is teetering on the edge of a financial crisis or may have already found itself insolvent; at this stage, business owners can volunteer to appoint a liquidator to begin the wind-up process.

Conversely, compulsory liquidation means you have been forced to proceed with liquidation by creditors.

This is usually following failure to settle invoices from creditors and tax bills from HMRC and is often a result of a court hearing where the judgement decrees closure of business as a resolution.

In this case, a liquidator will be appointed to the company, and directors have a legal requirement to comply with the liquidator's demands.

Worried about the liquidation process? Speak with Fortis today.

The initial conversation is free and strictly confidential.

Send us a message, call us on 0161 694 9955 or email [email protected].

With Fortis, you're never alone!

Times are tough, and with that comes hardships, especially if you’re a business owner. People are holding back on invest...
23/03/2023

Times are tough, and with that comes hardships, especially if you’re a business owner.

People are holding back on investing in new products and services to tighten their purse strings while navigating the current economic climate.

This means you may have seen a downturn in sales, meaning you’ve had to make sacrifices like cutting staff and reducing your outgoings.

Sometimes, no matter what you do, unfortunately, there is no way out of a financial crisis as a business owner.

When this happens, you may find that your business is operating insolvent. From this point, it will be time to consider winding up your company.

If you've arrived at this point, let Fortis guide you through the next part of your business journey.

The initial conversation is free and strictly confidential.

Send us a message, call us on 0161 694 9955 or email [email protected].

With Fortis, you're never alone!

What if my cash flow problems aren’t temporary? Sometimes cash flow problems cannot be resolved. When this is the case, ...
09/02/2023

What if my cash flow problems aren’t temporary?

Sometimes cash flow problems cannot be resolved.

When this is the case, a Creditors’ Voluntary Liquidation may be your best option. Directors can action CVLs if the company becomes insolvent or the shareholders pass a winding-up resolution.

Once the CVL process begins, the company will cease trading, and the liquidation process will begin. Your appointed insolvency practitioner will liaise with creditors on your behalf, relieving any stresses you may have.

For some situations, a CVL may not be the best option, so an insolvency practitioner can advise you on what you should do next.

Free advice from Fortis:

If you’re concerned about your cash flow, contact Fortis today for free initial advice.

All conversations are strictly confidential. We’re here to remove your stress and find solutions that work for you! Call us on 0161 694 9955 or email us at [email protected].

Don't ignore your temporary cash flow problems! Like many things in life, ignoring your problems won’t make them go away...
07/02/2023

Don't ignore your temporary cash flow problems!

Like many things in life, ignoring your problems won’t make them go away. The same goes for cash flow problems. Ignoring them can leave you in an even worse position, so tackling them is best.

If you ignore them completely, your creditors will likely react by stopping any products or services they provide to you, which will massively disrupt your business operations.

If you get in your creditors' bad books for not paying, they may act against you via a winding-up petition to gain back any monies owed. A result of this could be Compulsory Liquidation.

You want to avoid this happening because it could mean that your future credit options are affected negatively, you may be seen as unreliable, and your reputation as a director or business owner could be damaged permanently.

Avoiding Compulsory Liquidation...

To avoid Compulsory Liquidation, you may opt into a Company Voluntary Arrangement (CVA). With a CVA, you can keep your business operational while negotiating arrangements to pay back your creditors.

You can request extended payment terms through these negotiations and even apply for debts written off.

If you’re concerned about your cash flow, contact Fortis today for free initial advice.

All conversations are strictly confidential. We’re here to remove your stress and find solutions that work for you! Call us on 0161 694 9955 or email us at [email protected].

My company is experiencing cash flow problems – what can I do? With the current cost of living crisis and economic reces...
02/02/2023

My company is experiencing cash flow problems – what can I do?

With the current cost of living crisis and economic recession, it’s very easy for businesses to be experiencing cash flow problems. When you have more money going out than coming in, this can cause stress and worry for business owners, so what can you do in this situation?

Assess your situation...

First and foremost, properly assess your cash flow situation. Is this a temporary problem or one you think can’t be resolved?

What has caused the cash flow problems? Have there been changes to the business? Is it the effects of increasing bills and inflation? Have your sales reduced, and if so, why?

Are your cash flow problems temporary?

If you’ve assessed your situation thoroughly and find that it’s only a temporary problem, then you may be able to delay some of your payments to your creditors. It can be worthwhile speaking with them to explain your situation and negotiate a delay on payments or different payment terms until your cash flow is back on its feet.

Many creditors would understand this situation, especially if you’re on good terms with them and have made prompt payments up until now.

You should be aware, however, that some creditors may not take this news lightly and may see it as a bad sign that you won’t be able to pay at all. They may restrict your services or reduce credit terms.

If you’re concerned about what to do, speak to the team at Fortis, who will be able to advise you on the best action to take.

It really can be that simple! ☺️ Take away your stress this year and speak with the Fortis team today!
31/01/2023

It really can be that simple! ☺️ Take away your stress this year and speak with the Fortis team today!

The Accelerated Payment Notice (APN) is a piece of legislation that was introduced to target taxpayers who have used leg...
26/01/2023

The Accelerated Payment Notice (APN) is a piece of legislation that was introduced to target taxpayers who have used legal tax avoidance schemes to shelter money.

A large number of business and Individuals in the United Kingdom who benefitted from tax gains via the Disclosure of Tax Avoidance Schemes (DOTAS) are now receiving Accelerated Payment Notices (APNs) which usually demand payment within a 90-day deadline period.

These demands offer no right of appeal and will cause a lot of companies in receipt of these notices to become insolvent as they struggle to meet the tax liability.

To learn more, speak with the Fortis team today for a free, confidential chat!

A number of successful businesses are faced with pressure from HMRC. It could be that you are behind with your VAT, PAYE...
24/01/2023

A number of successful businesses are faced with pressure from HMRC. It could be that you are behind with your VAT, PAYE or Corporation Tax payments to HMRC or you are unable to discharge liabilities in full. In most circumstances, these will be indicators to HMRC that your business could potentially be insolvent.

Any arrears to HMRC need to be dealt with immediately otherwise late or delayed payments can alert HMRC to outstanding debts and prompt them to issue a winding-up petition against your company. It is possible to speak to HMRC to discuss a Time To Pay arrangement (TTP) provided you have a sustainable cash flow and can make payments on time to discharge the arrears.

Speak with Fortis today if you are struggling with HMRC payments - we will be able to advise you on the best solutions over a free, confidential discussion. Call us on 0161 694 9955 or email us at [email protected].

Address

683-693 Wilmslow Road
Manchester
M206RE

Opening Hours

9am - 5pm

Telephone

+441616949955

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