Home About Us Services Resources Sage Insurance Useful Links How Do We Charge? Contact BUSINESS/CORPORATE RECOVERY OUR SERVICE Batesons, in association with a Lancashire based Insolvency practice, are able to offer full rescue turnaround assignments on behalf of companies, partnerships and individuals, whose businesses are becoming less viable due to the incidence of bad debts and other adverse cash flow positions.                       A recent example of this is where a client’s major customer failed to produce a viable commercial return for the client.  The outcome of this was that the company decided not to use the customer in future, and to declare redundant two dedicated employees, whose salaries amounted to more than the turnover from the customer.  As a result of this situation the business fell behind with it’s VAT and PAYE/NIC payments.  Through using the associated Insolvency Practice an 8 month repayment plan was negotiated with HMRC, which was successful.  Due to the fact that the two employees concerned were made redundant savings from their salary more than paid for the outstanding VAT and PAYE.             In this particular case we prepared quarterly Management Accounts on behalf of the client, and were aware of the company’s current financial position, thus it was easy to identify the problem and move quickly to seek assistance by persuading the business to make changes in the way it operates and enter into the informal agreement with the Creditors referred to above, and in this manner were able to return the business to profitability. We have in-depth experience of working with troubled and under-performing companies, especially over the last few years of recession.  In this regard we would welcome a timely free of charge exploratory discussion from any owner or director concerned where their business might be running into difficulties. In this regard we would work with sensitivity and professionalism to establish a trusted business environment within which we can deliver the practical support and advice required.