Coronavirus - The Financial Impact

17 March 2020

Coronavirus, unsurprisingly, has had an unprecedented impact around the globe, and its financial implications are going to be felt for months and possibly years to come.

The scale of the outbreak is not something that could have been anticipated and even with the best contingency planning, it is natural to be worried and wonder about the impact it will have on your business.

Support measures announced by the Scottish and UK Governments will assist, but it is too early to say how much of the impact they will mitigate.

The key in any situation like this is to get advice as early as possible and our Restructuring and Recovery (“R2”) department have the skill and expertise to guide you through these challenging times. Examples of what we can do to assist are:

· Solvent restructuring

· Cashflow reviews/projections

· Business health-check (general overview of business/potential issues you may face)

· Creditor review/discussions with creditors

· Debtor book review

· HMRC/Tax reviews

· Personal Guarantee reviews/options

· Refinancing options

· General advice/discussions on directors’ duties/insolvency advice

Whatever your worries/potential issues are the R2 team and AAB will work with you in order to achieve the best possible outcome and help you steer through the choppy waters ahead.

For more information, or an initial, no obligation, consultation please contact Duncan Raggett (duncan.raggett@aab.uk) or your usual AAB contact.

If you are unsure about what Government support package is available to your business, we are here to help. We have created a simple toolkit that cuts through the noise and makes you aware of exactly what help is available to you. It takes a few minutes to fill out and you can find it on our COVID-19 Information hub

To find out more about the R2 team please, click here.

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