If your company is experiencing financial difficulties, it is important that you obtain the services of a trusted partner to help you understand your options.
In today’s inconsistent and often unpredictable market, there can be a number of causes behind a company’s deteriorating financial situation:
- Increased competition
- Loss of major customers
- Unsustainable debt
- Inadequate fiscal management
- Revenue and/or profit decline
- Negative financial statements for two consecutive years
- Declining market
- Negative cash-flow due to excessive debt service
Our primary role is to analyze the financial position of your business in order to diagnose the problem. Taking this initial step will enable us to paint a comprehensive picture of the situation and to present possible strategies.
The Licensed Insolvency Trustee is the only licensed insolvency practitioner. He or she is authorized to advise firms and ensure that their rights are respected according to the Bankruptcy and Insolvency Act.
Does your company need a second life? The business proposal (Division I Proposal) allows you to make an agreement with your creditors to give a break to your business. This agreement will lower the amount of your debt and/or extend the repayment term. The goal: to enable your company to continue its operations and to reorganize.
The next step
The next step is to consult with us as a part of a summary assessment. In this meeting, we will answer all of your questions and ensure that your options are well presented.