I'd like to talk to you about the Bermuda Triangle of Phoenix companies. As you're probably aware, Phoenix companies are those that stop trading one day and start trading the next day. 

So, to bring it to this trading situation, a lot’s gone on beforehand. We've probably had to sell the business, maybe to the directors or to a third party, and it's been paid for. 

We need to think about what's the best way forward for the company in debt. By phoenixing a company, we are making sure that there will be a benefit to the community in the jobs that are saved. But in order to come to that decision, we need you to talk to us as early as possible so that a business can be saved.

Let me tell you what I mean. I dealt with a company that had a sandwich shop and a café. The sandwich shop was definitely bringing the company down and needed to be jettisoned. So the company went into liquidation, the director bought the assets and the business of the cafe. The cafe is still trading well and profitably, remaining a client of the accountant that recommended me. 

So that's the sort of situation I mean. There could be an area of the company that is dragging it down and preventing the company from trading well.

By taking advice early, something can be saved out of a very difficult situation.

If you think you've got a client that needs my help, give me a call.