In periods of financial distress, management teams often face considerable challenges, with many directors having little or no experience of similar conditions.
Where underperformance leads to a breach of banking facilities or covenants; or pressure from creditors or threat of withdrawal of credit lines, the business and its stakeholders need to appoint independent advisors with proven experience in such circumstances.
In the early stages of turnaround the right support is necessary to create financial stability, assess cash flow and identify other means of improving short-term liquidity.
When stability is restored, diagnostic analysis provides stakeholders with a clear understanding of the causes of underperformance and the strategic potential of a business - both crucial when assessing turnaround potential.
A journey from crisis to recovery
- Identifying and resolving issues affecting a company's ability to continue trading which often comes from a short term funding requirement coupled with liquidity problems. Time is of the essence in situations like this, we can be on site in less than 24 hours in the UK and internationally within 48 hours
- Providing in-depth assessments of a company's financial position and actions for stabilising the business. When stability is restored, we work with management to devise a detailed turnaround plan to return the business to profitability. This may include the exiting of under-performing non-core business units or the use of other restructuring tools
- With our deep understanding, built over many years and assignments, of what stakeholders require, we aim to find the best possible outcome for all involved. Our most recent high-profile award-winning turnaround was Kodak alaris, where we have safeguarded the pensions of thousands of UK employees and pensioners
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