Visit our dedicated small business restructuring site for small business owners facing financial distress.
Northern Beaches
Confidential advice for Northern Beaches individuals, business owners, directors and sole traders under financial pressure. Thyge assesses the position, explains the options that are realistically available, and tells you which ones are still open.
When paying it down is no longer realistic.
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.
When to seek help
When should I get in touch with TTJ?
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.
Who this page is for
For Northern Beaches business owners, directors, sole traders and individuals under financial pressure. Accountants, bookkeepers and lawyers have a page of their own.
PERSONAL
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.
Other Ways We Help Individuals, Business Owners & Directors
Owed money by a business TTJ Advisory has been appointed to? The FAQs below explain who to contact.
Other Ways We Help LAWYERS, ACCOUNTSANTS, and bookkeepers
ADVISORS
Who this page is for
For Northern Beaches business owners, directors, sole traders and individuals under financial pressure. Accountants, bookkeepers and lawyers have a page of their own.
Business Owners & Directors
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.
Creditors
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.
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.
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.
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.
Services Rendered
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.
Services Rendered
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.
Services Rendered
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.
Services Rendered
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.
Services Rendered
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.
Services Rendered
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.
Services Rendered
How TTJ Advisory Works with Northern Beaches Businesses & Individuals
It starts with a confidential conversation about what has caused the pressure and what has already happened, such as ATO contact or creditor action. Thyge then assesses the position and sets out the pathways that are realistically available. If you already work with an accountant or lawyer, he deals with them directly and keeps everyone on the same page.
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?
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.
1. A confidential conversation. What's happened, what's owed, what's already been lodged.
2. An assessment of the position. Whether the business is viable, and where personal exposure sits.
3. 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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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.
