Turnaround and Rescue Service
This is for businesses who are experiencing cash flow difficulties, unable to get funding or who are simply struggling to survive. Typically they will display some or all of the following symptons:
- Cash flow problems
- Bank facilities under pressure – in breach of covenants
- Operating in permanent crisis management mode
- Margins under pressure
- Losing market share
- Suppliers refusing credit
- Customer collections slow
- Struggling to survive
We have found by experience that with the right conditions, companies can often solve their own problems. However it is essential that the support of an experienced turnaround professional is sought. Your usual accountant may not have the hands on experience or time to deal with the challenges required in a turnaround scenario.
It is essential that you contact us as soon as possible before control is taken out of your hands by your bank or creditors.
Our six point plan can reverse the fortunes of your company:
- Initial consultation to assess if we can help – free of charge and without obligation.
- Stabilisation – calm things down with suppliers, bankers. This is “fire-fighting” phase. We will try to stem the cash bleed, free up cashflow, and buy some time so that a survival plan can be developed.
- Review – is there a viable business underneath all the difficulties. This is an extensive review of the business, it’s products or services, it’s operations and commitments. This part of the process will identify cost reductions, opportunities to increase turnover and profitability. It will also identify the root causes of the problem – this is essential so the appropriate corrective actions are identified and deployed.
- Discussions with stakeholders. We work with your bankers, suppliers, employees throughout the process.
- Develop a plan for recovery. We develop a detailed plan to address the problems identified and set out a roadmap to reverse the fortunes of your company.
- Implement and monitor. Once the recovery plan has been agreed implementation is key and must be swift and uncompromising. We will work with you to ensure the action plan is fully implemented. This will include a reporting system to monitor progress and check that the actions are having the intended effect.
We don’t just write reports, we identify solutions and work with you to implement them.
Right now the situation is controlling you. That has to change. You need to take control of the situation. We can help you do this.
The most important thing is to take action sooner rather than later. The earlier steps are taken to correct the situation then the greater are the chances of success.