company going bust

Similar situation as is anyone in retail I think thats opened in the last few years and has not their mortgage paid off etc. Did a big rationalisation last year half the staff and worked flat out for the two weeks before christmas with literally nothing but a few more debts paid off to show for it. that said the two remainginig staff are fantastic and know the situation as well as I do. debts are coming down in that we owe less now than last year but not going as fast as I'd hoped.
Trying to rationalise again with store rent and possibly three day weeks etc hoping that when (not if have to stay positive) we make it to next septmber things may have started moving up a bit again.
Path a friend had to liquidate a month ago or so and it's a huge weight off his back, he has a job now and I have no doubt will bounce back in the future as you will too.
Keep your physical health and mental health as strong as you can keep reminding yourself its business and this too will pass.
 
This time last year I was screwed completley, pretty much where the others are saying but I have stuck at it and cut costs, probably only paid myself 4 of the 12 months but it has all been worth it.

Business is now growing consistantly even in these hard times, probably because I was in trouble before most realised how bad it would get it forced me to re evaluate and re position my business.

Keep positive............life goes on and will go on even if you have to close and do something else.
 
Most reputable liquidation companies will offer you free advice/consultations... Do a google search and speak to the one you think most suitable. If you are not a large company avoid KPMG, Kavanagh Fennel etc. as they will not deal with anything which is less than 20K+ for a liquidation. Most liquidators a very busy as well so will not pressure you to liquidate, and will advise you if you can continue
 
Liquidator said:
Most reputable liquidation companies will offer you free advice/consultations... Do a google search and speak to the one you think most suitable. If you are not a large company avoid KPMG, Kavanagh Fennel etc. as they will not deal with anything which is less than 20K+ for a liquidation. Most liquidators a very busy as well so will not pressure you to liquidate, and will advise you if you can continue
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No insolvency practitioner would attempt to deferr the liquidation of a company if they were too busy as it would be negligent!
 
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