We’ll navigate the tough times for you
Now’s the time to have someone in your corner – an advisor who provides clarity amongst the murkiness of insolvency, stress and indecision.
Now’s the time to have someone in your corner – an advisor who provides clarity amongst the murkiness of insolvency, stress and indecision.
Approved small business restructuring practitioners
Worrells is available Australia wide
Fast, cost effective options
New solutions for companies with liabilities up to $1m
COVID-19 has created a tough economic environment for many small businesses and the government has made changes to allow your company to restructure debt more easily to weather the storm (and stay in control of your company).
If things are too tough and you need to close, the new legislation changes make it more straight forward for businesses to wind up, with less costs.
Small business owners are a tough breed and independent by nature, so that makes it difficult when deciding you might need a helping hand to change your situation.
There’s some critical signs that you should look out for.
We’ve been around the block, specialising in insolvency since 1973. It’s what we live and breathe every day. We take the jargon out of what can be a complex process and offer a supportive environment during difficult times.
This new insolvency reform is like a game of Jenga. Only practitioners previously experienced in insolvency understand how each piece impacts another.
Not quite sure what this reform is really all about? We’ve got plenty to share on it:
The criteria are:
All registered liquidators are automatically Small Business Restructuring Practitioners (SBRPs). Worrells has 29 registered liquidators/SBRPs across Australia.
Providing appropriate advice regarding a distressed business requires a specialised skill set and knowledge that is acquired through years of education and experience.
Furthermore, registered liquidators operate in a highly regulated environment and are subject to strict professional standards, accountability and ethics, unlike many “advisors” in the unregulated pre-insolvency market.
While SMEs may appear to have simplified affairs, in order to achieve a successful outcome in any business turnaround process, it is important for those managing that process to have the correct expertise, a well-planned and articulated strategy, and the ability to support all key stakeholders.
Solvent companies can be wound up by its members via a members’ voluntary winding up. Contact Worrells to learn more about this process.
Facing financial distress is a crushing experience that creates hardship on a personal level. It’s not easy.
Be aware and proactive about your mental health, so you can get out the other side of these challenges.
Ask for help if you need it.
Chat to your doctor or reach out to Beyond Blue or Lifeline if you are in urgent need of help.