Business insolvency advice in Plymouth
Keep customer assets separate from company property
A Plymouth company carrying out repair, storage or project work may hold items that belong to customers. Identify those assets clearly and retain the relevant paperwork. They should not be included in an estimate of company assets available for creditors.
For unfinished work, show what has been paid and what still needs to be done. A restructuring or liquidation discussion should address customer property, staff and premises alongside finance. Do not move goods or agree disposal arrangements without checking ownership and the company's obligations.
Speak to an adviser
Quote Plymouth 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 Plymouth and the surrounding area
We support company directors in Plymouth, Devon, including businesses in the PL1 postcode district. You can also contact us from Plympton, Plymstock, Saltash, Ivybridge. 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.
Specialist work with expensive completion stages
A Plymouth engineering or manufacturing company may need a final round of spending before it can invoice. Assess the remaining cost, customer acceptance and payment timetable. Continuing a job is only a practical option where funding and the likely outcome have been properly considered.
The problem and possible next steps
Customers paying late: separate realistic collections from disputed or uncertain invoices. Check whether earlier billing, collection work or cost reductions would leave enough cash for current bills and arrears.
A viable business with historic debt: discuss rescue options using an achievable forecast. Any formal creditor arrangement needs specialist assessment and the required approvals; closure options should also be considered if repayment is not sustainable.
For issues involving manufacturing, see our sector guidance. We consider the business’s actual contracts, costs and liabilities rather than assuming every company in Plymouth faces the same problem.
Questions from Plymouth business owners
What if customer-owned goods are mixed with our stock?
Prepare an inventory and gather delivery records, invoices and contracts. Clear identification helps avoid treating third-party property as something the company can sell or transfer.
Do you help businesses in PL1 and around Plymouth?
Yes. Our enquiry service covers Plymouth and nearby areas including Plympton, Plymstock, Saltash. PL1 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.
Can financed machinery be sold to raise money?
Check ownership, finance terms and any security before arranging a sale. Equipment shown in the accounts may belong to a finance provider. An adviser needs the agreements and realistic asset values when comparing continued production with a possible closure.
What should I have ready when discussing my Plymouth 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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