The team at SPW are able to advise and assist with the procedure to close a company such as; Creditors Voluntary Liquidation (CVL), where the company makes the decision to close. This type of procedure is relatively simple for companies with no assets or staff, but can get very complicated in cases where the company owns property and is involved in long term contracts. This option allows the business to formally close with a view to starting again.

The partners at SPW aim wherever possible to save or preserve businesses. The team are experts in business rescue procedures such as Company Voluntary Arrangements (CVA), which allows a company to reduce its creditor payments and write off a large proportion of its debts allowing a company to get back to profitable trading. Alternatively a Pre Pack / Administration Order is a procedure to protect a company from its creditors; giving it vital breathing space; whilst a business recovery or restructuring package can be formulated and implemented.

For some years the partners at SPW has witnessed the growing use of Individual Voluntary Arrangements (IVAs) by those seeking to address unmanageable levels of debt. The team are experts in procedures such as an Individual Voluntary Arrangement (IVA), which can write off a large proportion of unsecured debts and allow the individual to avoid bankruptcy. In other cases we are able to advise on Bankruptcy or a Debt Management Plan (DMP) when an individual cannot pay their debts as they fall due.