Partners in non LLP firms do not enjoy the limited liability that directors of incorporated businesses have. We provide partnerships with clear, concise advice on the options
In a Limited Liability Partnership (LLP) or simple business partnership you have a number of legal options if you are struggling with debt:
- Partnership voluntary arrangement
- Partnership administration order
- Partnership liquidation
It's not the end of the world. At Frost Group, we have advised all sorts of people on debt and insolvency, including professional partnerships and we can help you, too.
Your first step is to call us on 0845 260 0101 as soon as possible. The earlier you call, the more options you will have, particularly if you are losing assets through trading losses.
If there is the possibility of turning your partnership around, we can also help you with advice to restructure your business, find access to finance and work with you to develop new strategies to get your business back on track for success.
Call our business advice team on 0845 260 0101. From our offices in Croydon, London and Bournemouth, we support partnerships and businesses across the country to grow.