Wilson Field understand that there can be an immense amount of pressure on directors when deciding what is best for their company.
If you are a director or officer of a company and realise it is in financial difficulty then you need to act immediately. You should seek advice from a firm employing licensed Insolvency Practitioners, like Wilson Field, as there are usually more options available to the company at the early stages of a financial crisis and a much better chance of the business surviving.
Sometimes it is possible for a company to continue trading with the help of an insolvency procedure which will protect the company from its creditors and allow it to breathe and come back to life.
It is also worth considering that in certain circumstances, if you continue to trade the company you could become personally liable for its losses and could also be disqualified from acting as a director of any other company. That is another reason why you should seek professional advice without delay.