Guidance
Director information hub: Dealing with company distress
What you can consider doing if your company is in financial difficulty.
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Your company is in financial difficulty or ‘distress’ when it is not able to meet its financial obligations.
These obligations could include:
- unpaid bills to suppliers
- business costs like utilities or rent on office space
- outstanding wages to staff
- income tax and National Insurance contributions
- VAT And Corporation Tax
What action can you take?
Companies in distress could consider the following options:
- seeking professional help from your accountant, financial or business adviser
- seeking restructuring advice
- seeking business turnaround advice
Restructuring or turnaround advice
Some companies benefit from speaking to turnaround or recovery advisers. This advice is not always free, and you should only use reputable advisers.
More help on financial difficulty and company debt
If your company is in distress, get more information on: