Bring your company back to financial health

Is your business making a loss, running out of cash or simply operating to meet creditor demands rather than maximising profit?

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Business turnaround & rescue

With the right intervention early enough in the strategy, it may be possible to stage a company rescue and bring your business back to full financial health.

If you are struggling to balance your cashflow and other key financial priorities then seek advice from our expert advisors who can help provide options to turn your business around.  Although it may seem like your issues are insurmountable, our specialists have considerable experience in business turnaround and company rescue and can provide expert solutions to get your business back on track.

Business rescue process

Our specialist team of over 60 accountants, insolvency practitioners and business consultants that will guide you in the following process to deliver a fast and effective service, we will:

  • Establish if your business is viable – using accounting techniques to quickly assess and understand the true picture of your business’s situation.
  • Assess funding requirements and introduce additional finance assessing how much capital your business may need to return to profitability.
  • Implement immediate changes by working with your business to manage assets and free up capital required for funding.
  • Effectively managing your creditors buying time that easesthe pressure from your financial obligations, giving you space to turn around your business.

Business rescue

If your business is experiencing financial distress you are not alone.  Fluctuations in the economy and unexpected events can disturb even the most carefully constructed business plans.  

We have a team of experts to assist you through this challenging period and proven company rescue procedures that have helped hundreds of companies avoid insolvency. 

Administration

Company administration is a legal process designed to help struggling but potentially viable companies by protecting a business from its creditors whilst restructuring takes place. If your company is in debt and under pressure from creditors or perhaps is being threatened with legal action such as a winding up petition, seeking the protection of administration will prevent any further legal action. 

Compulsory liquidation

Compulsory liquidation is the result of a winding up order. It is the last resort for creditors seeking to reclaim monies when all else has failed. Even if your initial debt is paid to the petitioning creditor it is possible for other creditors to take over the petition and continue the court action.

Nonetheless with the right business plan and early action it may be possible to turn your business around.

CVA

Advantages of a CVA are that creditors cannot take action against the company during the CVA and once it has been completed the company has no liability to its pre CVA creditors.

Although a CVA is not suitable for every financially distressed company it can allow the company to trade through its difficulties and give the directors more time to get their finances back on track without threat from creditors.

Insolvency

Put simply, company insolvency is when a company has net liabilities, when it has reached the point of no return or cannot pay debts when they fall due. As soon as this happens, directors of the business should take advice from a licensed insolvency practitioner.

Taking early advice is key as this financial distress will impact on how the business should be run. It is sometimes possible to trade out of the situation if advice is sought early enough. There are some strict penalties for ‘getting it wrong’ that we can help you avoid.

Liquidation

It may be the case that your company is technically insolvent, or you can no longer afford to meet the terms of credit repayment agreements.  A creditors’ voluntary liquidation effectively ends your responsibilities and uses the company’s remaining assets to pay off your creditors. The assets are sold to the highest bidder – and that could be you. Part of our established process of implementing a creditors’ voluntary liquidation is helping you explore the options to recover your business.

Services for businesses

As licensed insolvency practitioners we are equipped to tackle any challenge for businesses in distress. However, we are also chartered accountants with vast experience throughout the firm of almost any financial and forecasting requirement. 

We don’t just skim through the numbers and jump straight into the insolvency options. Some would have you believe that insolvency pretty much means the end of the business road – but we don’t see that automatically follows.

Services for directors

If you are a director of a company in difficulty you may feel personally responsible for the situation. The positive and progressive mindset that won you success in the past may have deserted you but becoming aware of your options will often give you a different perspective. Talking to an expert advisor who can point you in the right direction is the first step in this process.

Services for lenders

All of our clients are experiencing some level of business distress. Many are in situations where cashflow is dictating business decisions, but it is probably not too late to return them to profitability.

Are you able to provide finance for businesses in distress that have had their requests for additional funds from other lenders turned down? If so then we can provide you with access to dozens of clients that need your services.

Services for professionals

We build long term relationships with accountants, banks and other professionals so you can trust that your clients will be looked after by our safe hands. Most of our work comes from referrals from local partnerships just like you.

If your client is experiencing financial distress it is vital they are provided with clear unequivocal, decisive and above all the correct advice. They probably wish to have all the options outlined and a clear no sitting on the fence recommendation. Your reputation could depend on it.

Other services

Put simply, company insolvency is when a company has net liabilities, when it has reached the point of no return or cannot pay debts when they fall due. As soon as this happens, directors of the business should take advice from a licensed insolvency practitioner.

Taking early advice is key as this financial distress will impact on how the business should be run. It is sometimes possible to trade out of the situation if advice is sought early enough. There are some strict penalties for ‘getting it wrong’ that we can help you avoid.

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