Creditors face the prospect of 1p in the Pound as the full picture emerges following the collapse of Carillion.
The collapse of Carillion has been devastating news for many small businesses across the country & recent indications that creditors could be facing the prospect of recovering as little as 1p in the £1 could result in many SMEs hitting cashflow problems and potentially going to the wall themselves.
Whilst it is impossible wave that magic wand and recover funds that are owed, it is likely that actions taken now to replace the missing working capital can help cover the short-term impact on the loss of both working capital and valuable contract.
Elite Corporate Solutions have access to the whole of market when businesses need additional working capital quickly.
If you have been impacted by the collapse of Carillion and have wages to pay, mortgage commitments to meet or your own supplier’s invoices are due it is essential that you act quickly to protect your business and ensure your own liabilities are met.
Whilst some banks are assisting client with emergency increases or flexibility to pay staff, not all SMEs have that luxury. In many cases Elite Corporate Solutions can arrange additional working capital within a few days.
If the potential impact is going to put pressure on the business for a longer term we can review existing financial commitments and look to raise funds against assets or restructure existing debt to reduce monthly commitments.
However you have been affected by the collapse of Carillion or by any other business that has not paid an invoice you were relying on, call the team at Elite Corporate Solutions to discuss your concerns and let our experts help you resolve your cashflow concerns and get through the challenges with minimal disruption.
If you have a cashflow issue because you have not been paid on time contact us on 01482 635400 or click here