Visit our dedicated small business restructuring site for small business owners facing financial distress.
Northern Beaches
Busy, established — and still running out of cash
Confidential restructuring and insolvency guidance for Northern Beaches business owners, directors and their advisers. Thyge looks at what's actually viable and what your real options are, while you still have a choice about which one.
Our clients work directly with Thyge Trafford-Jones, ASIC Registered Liquidator (No. 458321), Registered Small Business Restructuring Practitioner and AFSA Registered Bankruptcy Trustee (No. 1582), Member of ARITA and CPA Australia.
Company debt can become personal. Get both sides clear early.
Many matters involve the company's position and the director's personal exposure. They are connected, but they are not the same. Thyge is registered as both a liquidator and a bankruptcy trustee, so he can explain where each issue sits and what may still be available. If separate formal appointments are needed, independent practitioners will be used. You will know that from the start.
If two or three of these are true, it's worth a conversation now rather than in three months
BAS, PAYG withholding or super has slipped while wages and suppliers got paid first
An ATO payment plan has already been renegotiated once, and it still isn't working
Suppliers have shortened terms, or stopped supply
Fixed-price work is producing turnover without margin
One major client or contract has gone
A Director Penalty Notice has arrived, or a personal guarantee is now in play
The business is profitable before legacy debt — and can't catch up because of it
None of these mean the business isn't viable. Several of them together mean the question is worth asking properly.
TTJ Advisory on the Northern Beaches
TTJ Advisory maintains a local office on the Northern Beaches, in addition to servicing clients by phone and video conference. Meetings can be arranged in person, which means business owners, accountants and lawyers in the area can work through a company's position without needing to travel into the city.
Who We Work With
TTJ Advisory works with three main groups on the Northern Beaches: business owners and directors dealing with financial pressure, accountants and lawyers supporting their clients, and creditors seeking to understand the position of a company they are owed money by.
Business Owners & Directors
If your business is behind with the ATO, suppliers or superannuation, the position is unlikely to resolve itself. That does not automatically mean the business has to close. The first step is to understand what has caused the pressure and whether the underlying business remains viable. TTJ Advisory can assess the company's position and explain the realistic options, including restructuring where appropriate.
Creditors
If your business is behind with the ATO, suppliers or superannuation, the position is unlikely to resolve itself. That does not automatically mean the business has to close. The first step is to understand what has caused the pressure and whether the underlying business remains viable. TTJ Advisory can assess the company's position and explain the realistic options, including restructuring where appropriate.
Accountants & Lawyers
Support your client before their options narrow
If a client is falling behind with ATO debt, facing a DPN, creditor pressure or personal exposure, Thyge can assess the restructuring and insolvency pathways available. You remain the trusted adviser. TTJ brings the specialist capability.
Confidential early review
Direct access to the practitioner, not a hand-off
Corporate and personal insolvency capability in one place
Clear scope, practical next steps, and communication agreed with you
CASE STUDIES
Read about how Northern Beaches businesses can benefit from TTJ's services.
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.
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.
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.
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.
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.
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.
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.
How TTJ Advisory Works with Northern Beaches Businesses
TTJ Advisory typically starts with an initial, confidential conversation to understand what has caused the financial pressure and what has already happened, such as ATO contact or creditor action. From there, Thyge assesses the company's position and identifies the realistic pathways available. Where the business is working with an accountant or lawyer, TTJ Advisory coordinates directly with that adviser and keeps communication clear for everyone involved.
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 uses his life skills and 25+ years of broad experience to develop mutual trust and understanding with people and businesses who are facing financial difficulties.
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Where do I start?
Getting started is straightforward.
Arrange a confidential conversation about your or your client's position, work with Thyge to assess the situation and the options available, then agree on the appropriate next step together.
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
Some of the questions we're most often asked by Northern Beaches business owners and their advisers.
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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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.
