More UK House Builders Looking for Help to Survive
Small, medium and some large house builders in the UK are finding things increasing difficult due to reduced sales and land banks purchased at boom prices. Business Advice service, Fightyourcorner, has reported an increase in enquiries from its business recovery service, as builders think about business rescue and even liquidation.
“If any of these companies have made unfortunate land purchases in the last year, and then have found sales dip, as many have, then it is highly likely they will be finding it difficult to keep up with interest payments”.
Several house builders in England have gone into administration within the last month with one owing £36m.
fightyourcorner.com reports an increased number of enquiries from its Business Recovery page. “We get calls from visitors to our website: www.fightyourcorner.com literally saying “I want to put my business into liquidation. Can you help?” says Robin Carlyle, MD.
“On the other hand, we do get calls from business people at an earlier stage asking for a revue of their business with a view to setting in place a business rescue strategy involving rescheduling of debts, finance, stock and sales, and an appraisal of the existing market and competition, prior to possible changes of emphasis. This can be very satisfying and much more rewarding” says Robin.
Company Voluntary Arrangements (CVAs) seem to be becoming more common, which provide a genuine opportunity of business owners and creditors to get more out of a business that is in serious difficulties and can lead to recovery.
Individual Voluntary Arrangements (IVAs), (Trust Deeds in Scotland), provide a similar situation for individuals in financial difficulties. These are growing in demand too.
www.fightyourcorner.com was launched in Scotland at the end of 2006 with the assistance of Business Gateway and with the “blessing” of the Edinburgh Chamber of Commerce and the Federation of Small Businesses. Since then, the team of advisors on a number of services including Business Recovery has developed through out most of the UK.
For further information, visit: www.fightyourcorner.com or call 0800 130 0473
0800 130 0473