Business Recovery & Insolvency

Just because a company is experiencing financial difficulties, does not mean it is beyond rescue. For businesses which are facing operational and financial challenges, yet are ultimately viable, a process of restructuring could be the key to turning around its fortunes.

Company restructuring takes a number of forms, with the chosen strategy dependant on the precise pressure points and potential opportunities specific to the business in question. This can range from something small such as refinancing existing debt to free up working capital, through to a major streamlining of operations to improve efficiency, reduce costs, and minimise waste. This may involve closing down unprofitable areas of the business so that finances, resources, and energy can be diverted to those parts of the company which generate the most revenue.

Although any non-performing arms which are identified may need to be sacrificed in order for the rest of the business to carry on operating, the aim of restructuring is to save as much of the business as possible.

Due to this, restructuring is only appropriate for those company’s which have a viable future and where its directors have an appetite to turn around its current situation. The suitability of restructuring as a solution to company insolvency will need to be determined by a licensed insolvency practitioner who will take an objective view of the company, assess its problems, before devising a plan going forwards.

While embarking on the restructuring of a distressed company is not something to be entered into lightly, the positives of successfully achieving this are substantial. Restructuring a business can help retain both reputation and goodwill, prevent redundancies, and reduce creditor losses when compared to liquidating the company.

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