Barringtons Corporate Recovery, a sister company to Barringtons Chartered Accountants in Nantwich, is helping businesses bounce back during the virus lockdown crisis.<\/p>\n
BCR experts specialising in the rescue of troubled companies have stepped up their support to businesses across the region with free consultations during the coronavirus pandemic.<\/p>\n
Insolvency practitioners Barringtons Corporate Recovery (BCR), based in nine locations including South Cheshire, are handling many inquiries from local firms fearing for their survival.<\/p>\n
Managing director Phil Wood said: “This unprecedented crisis is affecting us all personally and professionally.<\/p>\n
“We know that many businesses, ourselves included, are going through a period of turmoil and we are here to in any way we can.<\/p>\n
“We remain contactable over the telephone and are happy to offer free confidential advice.<\/p>\n
“We hope that for the vast majority of businesses during this time, insolvency is the last resort.<\/p>\n
“Accessing the government support is the first port of call and then there is the possibility of refinancing or restructuring the business.<\/p>\n
“The key is to seek advice early \u2013 the sooner help is sought the quicker all the available options can be reviewed and explored.”<\/p>\n
BCR, alongside its sister company Barringtons Chartered Accountants, has set up a team to assist firms claim a cash lifeline from the Government\u2019s Bounce Back Loans scheme.<\/p>\n
Loans of \u00a32,000 to \u00a350,000, interest and capital repayment free for the first 12 months, are on offer to hard-pressed small businesses underpinned by a 100% Government-backed guarantee for lenders.<\/p>\n
Mr Wood added: “The scheme went live on May 4 with a mass influx of
\napplications.<\/p>\n
“This is a stressful time for our business community and want people to know we are on hand to assist with confidential and impartial advice.”<\/p>\n
Over the years, BCR has saved many local businesses from going under with refinancing measures such as overdrafts, loans and invoice discounting.<\/p>\n
Recent cases have included shops, garages, pubs and sole traders struggling against a tide of debt and facing liquidation.<\/p>\n