Finance or Factoring for a Phoenix
A business can fail for a number of reasons but it is often when they run out of cash that their problems cause the business to go into receivership, administration or liquidation.
However, the trade of the business is often continued after the demise of the original company of firm, by another business and we can help the new business, or phoenix, find factoring or invoice discounting to finance the purchase and ongoing cash flow.
The new business that continues the trade of a failed company is often referred to as a phoenix i.e. one business rising "out of the ashes" of another in a similar way to the mythical bird from which it takes it name. In some cases, it will be the management team of the failed business who will start a new company (often purchasing an "off-the-shelf" company) which they may use to buy certain assets from the failed business in order to continue its trade.
We can introduce you to finance providers that are sympathetic to such circumstances even if your existing provider has refused to support your new business.
Some of the providers that we deal with are also able to provide a package of services whereby an insolvency practitioner (IP) can also be used to help organise the purchase and sale agreement etc. and we also have access to banking providers if necessary.
Complete an: ONLINE QUOTATION SEARCH REQUEST
For further information about Factoring follow this link
For further information about Invoice Discounting follow this link
