Do's
collect financial information together;
form an understanding of the Company's position;
have regular meetings and take notes and minutes of any decisions made;
prepare profit and loss and cash flow forecasts;
be honest with yourself, your employees and your contacts;
most importantly seek professional insolvency advice;
build a picture of the companys assets and liabilities; and
Don't
think your problems will go away if you do nothing about them;
take deposits for any work which you may not be able to complete;
ignore any legal proceedings;
pay any creditor in preference to another even if they are more demanding or
make promises you cannot keep.
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We
understand that you may require guidance and encouragement
to help you through these difficult times.
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