Support services for lenders and clients
We are able to support lenders / clients right from the early signs of stress in a funded business. We put a tailored business recovery plan in place to ensure that the business can trade out of the problem and continue to pay its creditors. Where the problem is more serious and turnaround cannot be achieved, we are licensed and qualified to advise on and implement insolvency procedures.
As a practice we are able to quickly get under the skin of the business to ascertain what type of support is required. The solution may be to simply provide turnaround consultancy. Where re-financing is required we have partnerships with a market wide panel of 221 lenders. In cases where the issues are more terminal, then the solution may be some form of insolvency event. However, given that we are the only insolvency practitioner in the UK with direct access to 221 lenders, as a lender you can be assured that you client is receiving a true professional and market wide review of all alternatives available, prior to considering some form of insolvency process. This is unique in the UK market.
Business Recovery Plan
Our business recovery plan will make appropriate recommendations and implement the following key elements, tailored to the individual business:
- Overhead and cost review
- Staffing structure and levels
- Cash flow management and control
- Sales and purchase ledger control
- Stock control and risk management
- Marketing and sales development
- Control of key financial processes
- Fixed asset management
- SWOT analysis
- Market position and penetration
Additionally, as part of the turnaround support programme, we will where necessary, take on a non-executive directorship position with your client, not only ensuring a much closer working relationship, but also allowing us the opportunity of helping your client increase efficiencies and profitability.
Financial Restructuring & Re-financing
Aside from the key issues above we also look very carefully at financial restructuring whether through the existing corporate entity or via some form of insolvency procedure. Included in this part of the assignment will be:
- A review of the current financing facilities and the cost of servicing those
- Identifying all available alternate sources of recovery finance
- Opening negotiations with all stakeholders, both internal and institutional
- Review of the availability of asset, trade and stock finance
- Renegotiation of supplier’s terms
- Consideration of alternative restructuring finance through a formal insolvency process.