CORPORATE RECOVERY
Have we reached the end of the road?
Businesses can face serious problems from time to time that force owners to ask themselves whether it is legally and/or financially possible to continue trading. These problems can arise because of:
- Cash flow and debt problems within the business
- Disputes between shareholders that threaten to undermine the business's stability and survival
- Internal problems, such as the insolvency or death of a key shareholder
- The insolvency of business partners or associates (such as distributors or licensors) which threatens the business's cash flow and survival, or requires urgent negotiations with Insolvency Practitioners
The three steps to recovery
Where a business is in crisis and faces potential insolvency, there are three important steps that must be taken, namely:
- Secure specialist advice on whether the business is solvent and the legal consequences of continuing to trade.
- Create a workable strategy to enable the business to trade out of its financial difficulties (if this is a legally prudent course to take).
- Implement the strategy with the help of an experiences recovery specialist.
Dispute resolution
Where the problem is an internal one involving a dispute between owners, or where one owner wishes to leave the business, we would handle this under our dispute resolution procedure (rather than consider it as a corporate rescue assignment). You can read how we handle shareholder or owner conflict by clicking on the Dispute Resolution link.
What a business needs when it is trouble
When a business is in trouble it needs, crucially, assistance from those who know what they are doing: because although all businesses are different in their way, the problems they face when they are in a crisis are all similar. For most business owners this is probably new and intimidating territory: for us this is ground we have covered many times before.
How we work
Our role is to assist you in implementing the three steps to recovery. Precisely what we do will depend on type of problem the business faces, the level of crises within the business and the management skills within the particular client company. You might wish us to take a day-to-day role in the initial stages, when the pressure on the business and management is particularly fierce (with this reducing to a Mentoring role later on), or you might wish to procure some advice on the solvency, or otherwise of the company. You might require us to fill a particular role during the crisis (such as financial controller), or negotiate on your behalf with your bank or creditors.
We will cut our cloth according to your needs and have had experience in all these roles and circumstances. All work will be quoted and agreed in advance, with the initial meeting on a fully confidential, no fee basis.
Our experience
John Hawkey spent ten years working in insolvency and reconstruction before forming Buckmaster Hawkey Limited in 1984. During all this time he has been closely involved with helping private businesses with cash flow and trading difficulties. You can learn more about John's qualifications and experience by clicking on the Directors link.
Contact Us
If you have problems in any of these areas, or if you have other issues that you believe could threaten the survival of your business, we can help you! Contact us today for a free, no-obligation discussion by simply clicking on and completing the enquiry form below.
