Turnaround finance

Even the most successful companies experience cashflow difficulties from time to time. Such situations invariably require continued or extended banking facilities or extended funding. Explore what turnaround finance has to offer.

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Is your business short of funds?

We offer a range of services to help overcome a financial crisis, provide turnaround finance or turnaround management when you need it most.

To facilitate this we have an ex-banker with extensive turnaround experience in our team who can guide you on how to approach your lender. Our banking expert can also help you find alternative funding for instance bringing in specialist lenders, factors and finance brokers to raise cash when you need it most.

If bridge funding is required we have access to funds of up to £5 million to lend against assets and have put together deals ranging from £70,000 to £900,000. Bridge funding is not a cheap option but we have seen this used successfully to produce quick returns of 100% plus.

When might turnaround finance be appropriate?

  • Your relationship with your bank manager becomes strained when your company is financially distressed and you need improved banking facilities.
  • Your bank has asked for an independent review.
  • You need to consider leaving your existing bank.
  • Bridge funding is required to cover a short-term gap in funding.

McTear Williams & Wood can do so much more than just nurse a company through its terminal stages. Brought in early, we can identify positive ways forward and introduce fresh sources of funding so contact us to discuss your specific needs. As an alternative you might consider tapping into our network of turnaround business angels.

Phil Bailey

Associate

Phil is an experienced turnaround and recovery director. He has over 28 years of banking experience working with corporate clients worldwide and advises on access to alternative forms of funding and advice on managing the banking relationships and joined McTear Williams & Wood in 2020 as an associate.

He spent five years as a turnaround director helping clients in the early stages of cashflow difficulties and avoiding defaults and insolvency processes and five years as Recoveries Director and Head of High Value Recoveries maximising the value of assets and reducing client liabilities as well as negotiating full and final settlements between the bank and clients to allow for speedy settlements and for both parties to move on.

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