Talking to your creditors can be very important; they have invested in you, they have trusted you – it may be scary and embarrassing.
However, you will need their support in the future even when taking routes such as Bankruptcy or Liquidation.
It is far better to provide your creditors with a good understanding that you have done all that you can to protect them.
An angry creditor, if not managed correctly, can make things considerably more difficult for you even if you are in bankruptcy or liquidation.
Third party influence is important.
If you employ Emerald to talk to and negotiate with your creditors it demonstrates that you are taking things seriously, you are acting fast and want to resolve these difficult times as quickly as possible, with their support.
Even if you shut down, restart, and your creditors see nothing – you would have demonstrated that you took the professional approach.