Companies sometimes find themselves in dire straits. They lose a key customer, the economic situation changes, or a product or service in which they have invested is not selling. Carrying on as usual is usually the worst option.
There are many possible remedies. You may attract fresh capital, or consider a partnership with another company or even a merger. You may also be obliged to make staff redundant or transfer your business. There are instruments that make restructuring easier specifically for companies in difficulties. Suspension of payments (Continuity of Companies Act) provides a framework, a kind of break, in which all options can be examined, ranging from debt reduction to a debt repayment plan.
As part of a liquidation procedure of your company, a transfer or cessation of business may be implemented. Crivits & Persyn can assist you in the whole restructuring process. We examine your case and offer you specific and practical advice. We can not only provide assistance in a collective redundancy process, but also the transfer of staff and transfer of business as an asset deal or as a share deal. We can act as liquidator of companies and associations, even if there is a risk that the liquidation will be a loss-making operation.