Business insolvency advice in Durham
Check that recurring income covers recurring costs
For a Durham company with regular customers, start by comparing dependable monthly receipts with the commitments needed to serve them. Include unpaid renewals, refunds and customers who may leave. A recurring contract is only useful to the forecast if payment and delivery assumptions are realistic.
If the core operation produces a surplus, that may support discussions about arrears. If it does not, a repayment arrangement alone will not repair the deficit. Review pricing, capacity and closure options before promising creditors money the business is unlikely to generate.
Speak to an adviser
Quote Durham 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 Durham and the surrounding area
We support company directors in Durham, County Durham, including businesses in the DH1 postcode district. You can also contact us from Chester-le-Street, Brandon, Langley Moor, Newton Hall. 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.
Term-time receipts and year-round costs
A Durham accommodation or service business can receive concentrated income while repairs, finance and staffing continue throughout the year. Forecast the full cycle and separate tenant or client funds where relevant. Avoid assuming that one strong receipt period resolves the company’s longer-term affordability.
Choosing between repayment and closure in County Durham
A Durham accommodation company may receive rent or bookings in large instalments but have bills every month. Test a repayment proposal through the quieter periods, with a reserve for repairs and current tax. If the proposal depends on every room being occupied, show what happens when that assumption fails.
Where trading remains viable, explore HMRC Time to Pay for tax arrears or a wider CVA assessment. If no funded recovery exists, discuss liquidation options. Businesses in Chester-le-Street, Brandon and Langley Moor should include leases, finance agreements and guarantees in the review; property value alone does not show what funds are available.
For issues involving student accommodation, see our sector guidance. We consider the business’s actual contracts, costs and liabilities rather than assuming every company in Durham faces the same problem.
Questions from Durham business owners
Can contracted revenue be counted before a customer renews?
Keep renewals that are not confirmed separate from existing commitments. Show a forecast with and without them so the effect on the company's ability to pay is clear.
Do you help businesses in DH1 and around Durham?
Yes. Our enquiry service covers Durham and nearby areas including Chester-le-Street, Brandon, Langley Moor. DH1 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.
How should term-time rents be compared with year-round costs?
Show when rent is actually collected and allow for voids, repairs, finance and other commitments between payment dates. Review tenant deposits and ownership arrangements separately. Rental income alone does not establish whether the business can meet its debts.
What should I have ready when discussing my Durham 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.
Will a tax payment arrangement stop other creditors taking action?
Not automatically. HMRC discussions address tax liabilities; suppliers, lenders or a landlord may still pursue their own claims. Include all payment demands and deadlines in the assessment.
Can I close a Durham company that owns mortgaged property?
The property, mortgage, other liabilities and any guarantees must be reviewed together. Do not assume the market value is available to fund closure or distribute to shareholders. Obtain current borrowing statements and explain whether the company can pay all its debts.
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