Business turnaround and restructuring

We understand how stressful it can be when your business experiences a financial downturn, because we help and advise business owners with financial problems every day. Our specialist skills and experience in the areas of turnaround, restructuring and insolvency are often required to deal with financial and operational problems.

We advise companies under pressure from creditors on their current position, including directors' legal responsibilities, and we help you in planning the most sensible way forward. We work closely with bankers, venture capital funds and lawyers to restructure and refinance struggling organisations.

Giving you the right kind of help

Many businesses avoid administration or liquidation by seeking professional advice to resolve their financial problems as early as possible. Our first priority is to focus on recovery - both of the business and its corporate structure.

Our services include:

  • Administration: can enable a business and its creditors to rescue its financial position and continue as a going concern. If rescue is not possible, placing a business into administration will often achieve a better realisation of assets than liquidation.
  • Business reviews and investigations: Most major financial and lending institutions recognise the importance of an independent review of the financial prospects of both prospective and existing clients before committing further resources. And, business owners and directors sometimes require specialist assistance when significant variations arise in expected profits or losses. We provide the necessary expertise, sensitivity and discretion to advise in these situations.
  • Compulsory liquidations: These occur when a company is unable or refuses to pay its debts. In general, a creditor will apply to the Court for a winding up order. Once this is granted, a liquidator can be appointed with a view to realising the assets of the company and making a distribution to creditors. As a creditor, you need to ensure that you appoint the right liquidator, one with the skills and determination to maximise the realisation of assets by taking legal action, when appropriate, and adopting the right forensic processes to trace assets.
  • Corporate turnaround: Directors of companies experiencing poor results or difficult trading conditions come to us for advice on their legal responsibilities and on how to implement practical plans to improve business performance, including turnover enhancement and cost management to ease cashflow pressure. We advise lenders too, providing strategic assessments and practical guidance on strategies to maximise recoveries.
  • Creditor services: Creditors don't always have the time needed to pursue debts thoroughly once a business goes into administration or liquidation. Nor do they necessarily have adequate access to the information they need to make appropriate decisions. Our national creditor services team has widespread reach, and can help you recover outstanding debts owed to you by corporate clients or individuals.
  • Creditors' voluntary liquidations: In some instances, there is no real alternative, other than to take the necessary steps to place a business into insolvent liquidation. For companies with sufficient assets to meet the costs of liquidation, a creditors' voluntary liquidation is the most appropriate route. We provide directors and shareholders with comprehensive advice and assistance to guide them through each stage of the liquidation process. We understand how stressful this process can be. Directors need the advice and support of experienced insolvency practitioners who can act with sensitivity.
  • Members' voluntary liquidations: The members' voluntary liquidation process is relatively simple, but there are significant risks for directors as a statutory declaration of solvency is required. We provide a fast and efficient service to company directors and shareholders for the winding up of solvent companies. However, proper advice and planning is a necessity to avoid the personal risks that impact on directors.
  • Receiverships: We provide banks, financial institutions and chargeholders with the experience required to properly maximise the realisation of secured assets while maintaining a professional approach to the continuing trade. In addition to the usual receiverships, we are recognised for our expertise in court receiverships, both in civil disputes and criminal confiscation.
  • Voluntary arrangements: These provide a realistic alternative to bankruptcy or business liquidation, while providing creditors with the assurance that a licensed insolvency practitioner will oversee every aspect of the process. An additional benefit is the potential protection of the court from creditors whilst the proposals are considered.

Review our glossary of terms, or for more information, please see the relevant creditor guides below: