American General George Patton once said “Do not try to make circumstances fit your plans. Make plans that fit the circumstances.”
Where companies are concerned it is often overlooked that behind a company and title of director is a human, with feelings, concerns and often, a family to support. That company is their source of domestic income or, more deeply, it is their “Baby”, their life or a family generational entity where personal emotions often prevail.
A question we at PBC always ask directors and individuals surrounds what their ideal solution to the challenges they are facing is. Often the reaction is one of surprise as they have either assumed the options are limited or they have simply not thought beyond the traumas they are experiencing at the time.
At PBC we cannot think of anything worse than someone adopting one option, only to find there was a better alternative that suited the circumstances. Should I look at an individual voluntary arrangement or go bankrupt? Should I place my company into liquidation when one of the restructuring and turnaround options are available? Questions we help you to determine the answers to.
It is accepted, circumstances can dictate/restrict the options available. One of those is simply one of not taking advice at an early stage. Equally, a director could say they have simply had enough of running the business and want to get out in the quickest manner. Regardless of the circumstances, we are of the opinion following your ideal path (where possible) is far more appropriate than simply looking at the perceived way forward. In other words, you make your plans to fit the circumstances.
If you require advice or assistance on any insolvency-related issue or with mediation, then please contact PBC Business Recovery & Insolvency to discuss and advise on your situation on 01604 212150 or email to email@example.com. Alternatively, visit www.pbcbusinessrecovery.co.uk for further information.