Corrective action for a Business Re Start such as company and capital restructuring, reducing costs, concentrating on core products, selling part of the business, and increasing financial control can help towards making a company profitable and are the actions you can take as part of a Business Re Start.

Informal arrangements can then be made with creditors to pay the debts off.

The business budget in this pack can help you with this approach.

The following are formal procedures that require the supervision of an authorised insolvency practitioner (or official receiver in some cases).

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