Insolvency & Rescue Solutions for Manufacturing
Much is talked of the demise of UK manufacturing, but this remains a vital and dynamic sector – this country is the ninth largest manufacturing nation in the world and accounts for 11% of GDP.
It should therefore play a key role as the UK looks to move into recovery after the pandemic. However there remain challenges – these include labour shortages and a majority of firms say they are finding it to attract and retain skilled workers. What is more, production has been affected because staff has been self-isolating.
Brexit continues to cause problems, many firms report supply chain delays and the UK has yet to devise an agreed ‘kitemark’ scheme to show the EU that British goods are safe. Further, so-called lean manufacturing techniques require substantial investment into machinery, processes, and technology.
Despite this, recent output suggests that expectations are being exceeded and there is diversity in the sector – the UK has both established manufacturing companies and a healthy start-up sector across a wide range of sectors.
The government is also keen to support manufacturing and has recently
announced £53 million of new funding to drive the development of digital manufacturing technologies.
Here at Company Debt, we have significant experience in both closing and restructuring manufacturing businesses. Get in touch for a free, no-obligation discussion about your situation with one of our licensed insolvency practitioners.
Manufacturing Pressure Points
What are the Reasons for Manufacturing Insolvency?
Yet, while this is positive, insolvencies are not uncommon, and some businesses are failing because of pandemic-related disruptions, being unable to fulfill orders, and too often, not being paid within an acceptable timeframe – late payment continues to cause SMEs in particular major problems. UK manufacturing may be resilient, but its failures show it is not invincible.
Help for your insolvent manufacturing business
If your manufacturing business is experiencing difficulties, you should not delay seeking advice. Business owners need to address problems and if they put this off, then their options become more limited.
Company Debt provides expert support and advice on the next steps for an insolvent business, whether rescue, recovery or liquidation.
Knowledge – Insight – Solutions
We are fully licensed and accredited insolvency practitioners based in north London, and with decades of combined partner experience in helping directors find positive solutions to business challenges.
Our goal is first to understand your situation as fully as we can, and then to explain the range of options available to you.
We focus on practical advice, without jargon. We practice total transparency around costs and fee structures. Our wish is to support you as fully as possible so that you can emerge from this situation in the best possible situation.
As a first step, simply book in a call with one of our team to learn more about our approach, and to take advantage of a fee consultation that carries no obligation.
Book My Consultation
If you need an experienced insolvency practitioner or business rescue specialist, seek advice now.
- Your free consultation will be led by one of our experienced London insolvency practitioners
- You can speak via phone, online meeting or in person so that we can listen carefully to the facts about your situation
- The team will provide a preliminary view of the likely best outcome, proposed strategy, and the likely cost
- We specialise in helping limited company directors needing immediate professional debt advice