Financial problems can happen to any business. In the most extreme cases, this can lead to bankruptcy or a suspension of payments. Clients or suppliers can also go bankrupt. GMW lawyers can give advise you on issues related to insolvency and restructuring.
Any entrepreneur can get into deep water financially. There may be all sorts of different reasons: disappointing turnover, non-paying clients, escalating costs or even the withdrawing of credit by the bank.
In many cases, the entrepreneur will succeed in dealing with these problems but that is not always possible. In this case you need an adviser who can help you find the right solution and you want someone with experience of helping businesses in difficulty and in restructuring and reorganizations.
By acting promptly, with expert assistance, it is often possible to prevent a bankruptcy. Or prepare properly for a restart, with the damage for the business, the personnel, the clients and other stakeholders to be limited as much as possible.