June monsoons hit the UK
Wet summers are a staple British tradition. It’s not a true summer without Cliff Richards singing at Wimbledon during rain delays or Glastonbury festival goers plastered in mud.
Whilst this can cause an inconvenience to our leisure activities, the effect on businesses can be catastrophic.
Organisers of events can theoretically obtain adverse weather insurance, however, the cost of that cover has risen to the extent where many now choose to do without.
The few companies which operate with substantial cash reserves will find them rapidly exhausted after paying the normal overheads. In the absence of such cash, a profitable company will become insolvent.
Do not allow your business to be destroyed by what your insurers would call “an act of God”!
Gibson Hewitt will always try to save a good business. Typically, in this scenario the recovery process would involve the creditors formally agreeing to give the company extra time to recover from the natural disaster before repaying. The precise details of what they are paid and when would depend on the specific circumstances of your business.
If your business has been hit by bad weather, contact Lynn Gibson at Gibson Hewitt on 01932 336149. The first meeting is free.