Begbies Traynor launches Merseyside Directors Advice Line

Tue, February 9th, 2021

Begbies Traynor has launched a new campaign aimed at signposting directors...

Begbies Traynor has launched a new campaign aimed at signposting company directors to a
range of positive actions they can take during 2021 to recover from the financial impact of
the pandemic.

The Liverpool-based rescue and recovery experts have launched a new confidential hotline
(0800 056 1059) enabling company directors on Merseyside to resolve the growing challenges
they face in repaying bounce-back loans, deferred tax bills and impatient creditors.

Research by Begbies Traynor shows that more than 9,000 firms (9,414) are currently in
significant financial distress in the Liverpool City Region – a 27% increase in the past twelve
months (from 7,400).

Begbies Traynor aims to draw attention to proactive steps that can be made by business
owners during 2021 including refinancing, unlocking fresh alternative funding sources, timeto-
pay negotiation strategies with HMRC and other methods to work with creditors to
support business survival.

Paul Cherpeau, CEO of Liverpool Chamber of Commerce, said:

“It’s important that company directors are able to access advice quickly and confidentially if
they find themselves in significant financial distress as a result of the pandemic. The
Merseyside Directors Advice Line from Begbies Traynor enables our members to tap into
expert knowledge and equip company directors with specific strategies and tactics to help
their business survive during a challenging business environment for all sectors.”

Keith Tully, partner at Begbies Traynor in Liverpool, said:

“The personal stress on business owners and finance directors is rising and its clear from the
conversations we’re having with people in the business community that there’s still limited
awareness of the positive steps owners can take despite being in a precarious financial
position.

“As the vaccine rolls out, lockdown eases and Government support levels taper off many firms
will require financial and tactical support from the professional services sector across our
region.

“Begbies Traynor will continue to work closely with accountants, lawyers and funders across
the region to focus on positive outcomes in 2021 for all business owners. Being
entrepreneurial about the challenges ahead means being proactive which is why we’ve set
up the confidential Merseyside Directors Advice Line so that directors don’t feel isolated with
their financial problems.”

Jason Greenhalgh, partner of Begbies Traynor, said:

“Our message to business owners out there is that even if you are one of the 9,414 firms in
financial distress there are plenty of actions you can take swiftly to get a positive outcome.
Fresh funding is certainly accessible for many companies and re-financing and restructuring
can give directors a platform for stability and survival in 2021.”

Call the confidential hotline on 0800 056 1059.

Meet the Members

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Begbies Traynor

No. 1 Old Hall Street, LIVERPOOL, Merseyside, UK, L3 9HG

  • T: 0151 227 4010
  • F: 0151 227 4009

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