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Our team of advisors and technical experts have over 150 years of experience between them.
Bridgewood – Insolvency & Liquidation Specialists
Bridgewood Financial Solutions is a leading insolvency and business recovery specialist firm, dedicated to providing expert advice and tailored solutions to businesses in Wolverhampton, the Midlands and across the UK.
Our mission is to support companies facing financial challenges by delivering compassionate, respectful, and knowledgeable assistance. Bridgewood understands Wolverhampton's unique business landscape, enabling us to offer insights and strategies that resonate with the local economic environment.
We are committed to positive outcomes and blend technical proficiency with a personal touch, ensuring each client receives the best possible guidance for their specific situation.
Insolvency Solutions for Wolverhampton Companies
Company Voluntary Arrangement (CVA) Wolverhampton
A CVA could be an appropriate option if you think your business has potential but is currently facing cash flow issues and increasing debts.
- Enables the business to keep operating, with the current Directors maintaining control
- Eliminates the portion of debt the company is unable to repay
- Prevents legal actions like CCJs and winding up processes
- Reduces cash flow pressures
- Typically resolves the company’s unsecured debts within five years
Creditors' Voluntary Liquidation (CVL) Wolverhampton
If your company is insolvent and is unable to trade out of its current cash flow problems then a CVL may be the only appropriate course of action. The Company Director Disqualification Act 1986 deals harshly with company directors who ignore the early warning signs of insolvency, so it is important to seek advice early in order to ensure you abide by the rules set out.
- Ensures all of the Directors’ legal obligations are met
- Brings a formal end to the business, which can then cease trading
- Fees tailored to your needs.
Administration Orders Wolverhampton
The administration process serves as an alternative to receivership or liquidation, with the main goal of ensuring the company's or a part of its operation's continuation as a going concern.
- Assists in avoiding receivership or liquidation
- Offers legal protection from creditors while a restructuring plan is formulated
- Allows the business to continue trading during the planning phase
- Aims primarily at the survival of the company or part of its operations as a going concern
- Often concluded by transitioning into a CVA
Company Insolvency Case Study
Allens Crankshafts
Allens Crankshafts was a very successful engineering firm in Wolverhampton which had been manufacturing bespoke crankshafts for over 10 years. Sadly, the owner/manager passed away and, with no one to take the business forward, it quickly ran into financial difficulty.
Bridgewood were called in to assist with the situation, which was made more complicated by the fact there was no appointed director and ownership of the company was now part of the deceased director’s estate.
However, working with appointed solicitors, we were able to ensure the company went into Administration, enabling the company’s affairs to be properly dealt with. Machinery and other assets were sold, mainly to other engineering firms in the West Midlands, realising over £350,000.
Customers were able to collect products already manufactured and the business closed down in an orderly way. Proceeds from the sale of assets will ensure creditors will receive some of the money back.
Get In Touch.
We offer free initial advice with no obligation. Please contact us by using one of the methods below or alternatively, you can contact individuals using contact information on the Our People page should you know who you wish to speak to.
Contact information
Address
Kings House Business Centre
St John's Square
Wolverhampton
WV2 4DT
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