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Visit our dedicated small business restructuring site for small business owners facing financial distress.

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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.

Aerial photo of North Curl Curl on Sydney's Northern Beaches

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.

TTJ Advisory's Northern Beaches office is available for confidential, pre-arranged meetings. Contact TTJ Advisory to confirm current office details and appointment availability.

Discuss your personal situation with ThygeBook a confidential client consultation

EXPLORE

Northern Beaches Services

Woman at laptop in coat, contemplative

Bankruptcy

Overhead view of financial review with charts and graphs

Court-ordered Liquidation

Directors working at SME office desk

Creditors Voluntary Liquidation

Carer embracing elderly woman, warm home setting

Deceased Estates

Executive standing with phone, colleague at desk - urgent corporate moment

Director Penalty Notices

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.

Building contractor looking over completed house

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.

Retail business owner standing in front of clothing racks

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.

Owner of a small professional services firm reviewing cash-flow reports with an accountant

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.

Bartender holding a glass behind the bar of a small pub, shelves of glassware behind her

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.

Two restaurant workers smiling as they look at a laptop together at a table set with wine glasses

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.

Carpenter holding measuring device looking at camera with shelf construction in the backfround

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.

Construction worker with a hazard yellow vest on, with crossed arms, in front of a construction site with a crane and building in the background

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.

Thyge Trafford-Jones, TTJ Advisory

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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Sole Trader Bankruptcy in NSW: Complete 2025 Guide by Licensed Trustee

An interactive tool to help directors and small business owners gauge whether a company may be insolvent and consider early next steps. A starting point, not a substitute for advice.

Insolvency Fact-checker

Read Our Blog

How can we help?

AUSTRALIA OFFICES:

SYDNEY:

160 Castlereagh St

Sydney NSW 2000

T 1300 124 338

info@ttjadvisory.com.au

NORTHERN BEACHES:

Suite 222, 20 Dale St

Brookvale NSW 2100

Thyge Trafford-Jones

  • Principal — ASIC Registered Liquidator (No. 458321) · AFSA Registered Trustee (No. 1582)

  • Member, Australian Restructuring Insolvency & Turnaround Association (ARITA)

  • 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.

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