Business insolvency advice in Croydon
Put every repayment commitment in the same forecast
A Croydon director may be managing a bank loan, equipment finance and several informal arrears plans at once. Record all of them alongside rent, wages and current tax. Looking at each repayment in isolation can hide a combined burden the company cannot afford.
The assessment should establish whether trading generates enough cash after ordinary costs. Refinancing might change the payment profile but does not remove the need for a viable business. If the deficit remains, compare restructuring and liquidation before adding further guarantees or expensive short-term borrowing.
Speak to an adviser
Quote Croydon and tell us your postcode so we can discuss suitable arrangements.
If a notice has a deadline, give us the date and the type of notice at the start of your enquiry.
Support across Croydon and the surrounding area
We support company directors in Croydon, Greater London, including businesses in the CR0 postcode district. You can also contact us from Purley, Coulsdon, South Norwood, Thornton Heath. Give us your full trading postcode and company details so the discussion starts with the right business and location.
Initial support is available by telephone and online enquiry. The locations listed describe our service coverage; they are not advertised walk-in offices. Any proposed meeting needs to be arranged in advance.
Several sites, one company bank account
A Croydon construction business may move cash between jobs without seeing which projects are profitable. Prepare a separate cost-to-complete figure for each site and identify retentions. This gives creditor discussions a firmer basis and helps avoid using a new job’s deposit to conceal an older loss.
The problem and possible next steps
Pressure from several creditors: put amounts, due dates and any enforcement action into one schedule. A cash-flow review helps distinguish a timing problem from a business that cannot support its debts.
No affordable recovery: take advice on company liquidation before committing more funds. Asset ownership, employees, leases and guarantees all need consideration; simply ceasing trade does not settle these obligations.
For issues involving construction, see our sector guidance. We consider the business’s actual contracts, costs and liabilities rather than assuming every company in Croydon faces the same problem.
Questions from Croydon business owners
Can refinancing solve several overdue accounts?
It can change timing or cost, but the new facility still needs repayment. Assess fees, security, guarantees and the forecast after refinancing, rather than judging it only by the cash released on day one.
Do you help businesses in CR0 and around Croydon?
Yes. Our enquiry service covers Croydon and nearby areas including Purley, Coulsdon, South Norwood. CR0 is one example postcode district, rather than a boundary for advice. Tell us your full postcode and where the company is registered when you contact us.
What if customers are withholding payment for completed work?
Separate agreed invoices from retentions, variations and disputed work. Record the likely collection date and cost of finishing each contract. That gives an adviser a clearer basis for assessing whether the business can trade through its cash shortage.
What should I have ready when discussing my Croydon company?
Prepare a summary of creditors, cash available, unpaid customer invoices and the next essential payments. Include tax arrears, finance agreements and any personal guarantees. Mention legal notices and their deadlines at the start; you do not need a finished recovery plan to make an initial enquiry.
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