Visit our dedicated small business restructuring site for small business owners facing financial distress.
Northern Beaches
When paying it down is no longer realistic.
Confidential advice for Northern Beaches individuals, business owners, directors and sole traders under financial pressure. Thyge assesses your position, explains the options that are realistically available, and tells you which ones are still open.
Brookvale office · Registered liquidator and bankruptcy trustee · Direct access to the practitioner · 25+ years in insolvency
TTJ Advisory on the Northern Beaches
A real local office. Suite 222, 20 Dale Street, Brookvale.
Thyge lives here. He is based in North Curl Curl and works with Northern Beaches businesses outside of business hours.
Meetings that suit your client. In person in Brookvale, or by phone or video, including outside business hours.
We specialise in the Northern Beaches local industries including construction, professional services, hospitality and health.
When to seek help
When should I get in touch?
Any of these is worth a conversation now rather than in three months.
Your business
ATO debt building, or a Director Penalty Notice arrived
Wages, super or suppliers hard to cover
Trading on while you suspect the business is insolvent
Personal debt
A personal guarantee called in
A bankruptcy notice served
Debts in your own name you can't repay
Bankruptcy already being discussed
None of these decide the outcome. Together they mean the position is worth assessing.
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WHO YOU WILL WORK WITH:
Thyge Trafford-Jones
Thyge is an ASIC Registered Liquidator (No. 458321), Registered Small Business Restructuring Practitioner and AFSA Registered Bankruptcy Trustee (No. 1582).
He is a member of the Australian Reconstruction, Insolvency & Turnaround Association and CPA Australia. He is also a Justice of the Peace.
Thyge handles the assessment himself. You won't be passed to a case manager, and you'll get a straight answer about what is and isn't available.
WHO ELSE YOU WILL WORK WITH:
Melissa Daubney
Client Liaison
Melissa brings a rare blend of business acumen and compassion to her role at TTJ Advisory.
With a background in sales and marketing, and firsthand experience running her own small business, Melissa is known for going above and beyond to support individuals and small business owners through challenging times, ensuring they feel heard, understood, and in control of the path forward.
When she’s not supporting clients, Melissa is a proud mum of four boys and a master of juggling family life with work. Her secret weapons? Coffee, spreadsheets, and a great sense of humour.
Who this page is for
For Northern Beaches business owners, directors, sole traders and individuals under financial pressure.
If your business is behind with the ATO, suppliers or superannuation, the position is unlikely to resolve itself. That doesn't mean the business has to close. The first question is whether the underlying business is viable once the legacy debt is separated from current trading.
If your debt has already become personal — a guarantee called in, a Director Penalty Notice, or debts in your own name as a sole trader — that sits under different law and needs to be looked at alongside the company's position. Thyge is registered in both areas, so both can be assessed in the one conversation.
You don't have to work out the answer before you ask for help
Debt can become overwhelming long before you know what your options are. You might be behind on personal bills, worried about a business, or unsure whether you're personally responsible for a company debt.
Because he has experience as a registered Trustee, liquidator and small business restructuring practitioner (SBRP), Thyge can help you understand which debts are yours, which belong to a company, and which processes may apply to each.
You can start with a conversation about what is happening. Thyge will explain the possible next steps in plain language and, if a separate independent practitioner is needed for part of the matter, tell you early.
You don't need to know what to ask for. You just need somewhere to start.
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CASE STUDIES
Building contractor facing personal exposure
The notice arrived. The clock had already started.
Challenges
Fixed-price work, higher costs and delayed progress payments pushed a busy contractor behind with ATO and super obligations. A Director Penalty Notice brought the director's personal position into the matter.
Assets
Work in progress, contract receivables, vehicles, tools and equipment.
Debts
ATO and super liabilities, suppliers and finance commitments, with possible personal exposure for the director.
Proposal
The director's commercial lawyer brought Thyge in urgently for the insolvency assessment while retaining the legal matter. The company's position, the notice and the director's exposure would be reviewed separately, with timing treated as critical.
Outcome
No outcome is assumed. What remains available depends on the notice, lodgement history, timing and the underlying viability of the business.
Outcome
PRIMARY: Small Business Restrucuring
SECONDARY: Directors Penalty Notice Amendment, Statutory Trustee, Bankruptcy Advice
Retail or lifestyle business
Stock was on the shelves. Cash was not.
Challenges
A local retailer overbought stock before demand slowed. Cash became tied up in inventory while rent, suppliers and tax obligations continued to fall due.
Assets
Saleable stock, online store, customer relationships, fixtures and equipment.
Debts
ATO liabilities, suppliers and lease commitments.
Proposal
The bookkeeper saw aged payables and tax liabilities worsening and suggested an early conversation. Thyge would assess whether a profitable core remained, what value could be recovered from stock and whether the cost base could realistically be reset.
Outcome
No restructuring outcome is promised. Early review helps determine whether the business can be stabilised or whether an orderly exit would preserve more value.
Outcome
Professional services firm
A major client left. The tax debt stayed.
Challenges
An established consultancy relied heavily on one client. When the contract ended, receivables slowed but staff, software and occupancy costs continued. BAS and PAYG liabilities accumulated before the cost base could be reset.
Assets
Debtors, work in progress, client relationships, business IP and equipment.
Debts
Legacy ATO debt, employee entitlements and ordinary trade creditors.
Proposal
The firm's accountant made an early introduction. Thyge would first test whether the business remained viable at a lower cost base, then compare the available informal and formal pathways against a revised forecast.
Outcome
No outcome is assumed. The point is to assess the position while the client book, staff and underlying business may still hold value.
Outcome
Hotel and pub
Paid 18c in the dollar
Challenges
COVID-19 lockdowns, a 70% drop in monthly sales and high fixed and operating costs.
Assets
Debts
$280,000 unsecured, including $200,000 owed to the ATO
Proposal
A payment plan arranged with the ATO and other creditors to repay $40,000 over ten months.
Outcome
Creditors accepted the proposal. Unsecured creditors received their scheduled payments. The business avoided liquidation and the cost of voluntary administration, enabling future profitability and stability.
Outcome
Restaurant group
Paid 22c in the dollar
Challenges
COVID-19 lockdowns, a significant drop in customer foot traffic and increased supply costs.
Assets
Debts
$240,000 unsecured, including $180,000 owed to the ATO
Proposal
$52,800 to unsecured creditors, paid over eight months, supported by a cashflow forecast prepared for the repayment plan.
Outcome
Creditors accepted the proposal. Employees received their full superannuation and kept their jobs. Unsecured creditors received their scheduled payments. The business avoided liquidation and the cost of voluntary administration, allowing for future growth and stability.
Outcome
Custom cabinetry business
Paid 20c in the dollar
Challenges
Supply chain issues, higher material costs, fixed expenses and the impact of COVID-19.
Assets
Debts
$150,000 unsecured, including $125,000 owed to the ATO
Proposal
$30,000 lump sum for unsecured creditors, presented as a better return than liquidation.
Outcome
Creditors accepted the proposal. The business continued trading without significant debt and avoided voluntary administration.
Outcome
Construction business
Paid 15c in the dollar
Challenges
COVID-19 restrictions, supply chain disruption, increased material costs and project delays.
Assets
Cash at bank, vehicles and equipment
Debts
$300,000 unsecured, including $240,000 owed to the ATO
Proposal
$45,000 to creditors as a lump sum, supported by a detailed cashflow forecast and a private investor.
Outcome
Creditors accepted the proposal. Unsecured creditors received their dividend. The business avoided liquidation and the cost of voluntary administration, and continued trading.
Outcome
What happens when you get in touch
Your first conversation is confidential and focused on understanding what has happened. Thyge will explain the options in plain language, identify any deadlines already running, and set out the next step.
A confidential conversation. What's happened, what's owed, what's already been lodged.
An assessment of the position. Whether the business is viable, and where personal exposure sits.
An agreed next step. In writing, with what it involves and what it costs.
One question comes before all the options: is the business viable once the legacy debt is dealt with?
The answer decides everything after it, and it is the first thing Thyge will look at.
Eligibility, timing and outcomes turn on the facts of the matter. Nothing on this page is advice about your situation, and no pathway described here is available to every business. That is what the first conversation is for.
FAQ
The questions Northern Beaches business owners and individuals ask us most often.
When should a Northern Beaches business seek restructuring or insolvency advice?
It is worth seeking advice early when tax or super obligations are slipping, an ATO payment plan is no longer working, suppliers are tightening their terms, a major contract has been lost, or a Director Penalty Notice or personal guarantee is in play. Early advice generally provides more time to assess the available options.
Which Northern Beaches industries does TTJ Advisory assist?
TTJ Advisory works with owner-led businesses across the Northern Beaches, including construction and trades, hospitality, retail, professional services, marine and boating, and health and allied health. The circumstances of each business are assessed individually.
Can my accountant or lawyer contact TTJ Advisory on my behalf?
Yes. TTJ Advisory regularly works alongside accountants and lawyers on the Northern Beaches and is available for a confidential conversation before you are formally engaged, so your adviser can understand the options that may be available.
Which areas of the Northern Beaches does TTJ Advisory service?
TTJ Advisory works with businesses across the Northern Beaches, including Brookvale, Manly, Dee Why, Mona Vale and surrounding suburbs, as well as with clients further afield by phone and video conference.
Does TTJ Advisory have an office on the Northern Beaches?
Yes. TTJ Advisory has a local office on the Northern Beaches and can meet with business owners, accountants and lawyers in person by appointment, as well as by phone or video conference.
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SERVICES
LEGAL
EVERYTHING ELSE
AUSTRALIA OFFICES:
NORTHERN BEACHES:
Suite 222, 20 Dale St
Brookvale NSW 2100
Thyge Trafford-Jones
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Principal — ASIC Registered Liquidator (No. 458321) · AFSA Registered Trustee (No. 1582)
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Member, Australian Restructuring Insolvency & Turnaround Association (ARITA)
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Member, CPA Australia
TTJ Advisory is a registered business name of Restructure My Small Business Pty Ltd (ACN 670 511 476).
Liability limited by a scheme approved under Professional Standards Legislation.
© 2026 TTJ Advisory.
TTJ Advisory acknowledges the Traditional Custodians of the land on which we operate, live and gather as employees, and recognise their continuing connection to land, water and community. We pay respect to Elders past, present and emerging.
