Financial trouble can hit any business and, in a post-pandemic world, it’s even clearer how fragile things can be. However, if issues arise, it may be necessary to seek alternative means of securing your future.

If you hit stormy seas, what options are available to help your business?

One of the most effective and common methods of securing an organisation’s position in the market – and to which financial hardship is not necessarily a pre-requisite – is a business restructure.

Restructuring is a catch all term that involves changing the financial, operational, legal, or other structures of a business to improve efficiency, profitability and cash flow. There are no hard and fast rules as to what a restructure will look like but it tends to involve refinancing, streamlining and/or corporate simplification, sometimes combined with a formal insolvency process, sometimes not, typically with the overarching aim of dealing with debt. However, companies may also restructure if they’re preparing for a sale, buyout, merger, or transfer of ownership.

There are significant benefits to undertaking a restructuring exercise and business owners should try not to be anxious about the process – it’s an opportunity to reflect on its current position and take the necessary steps to shape the future you want.

However, it’s important to bear in mind that restructuring is by no means a one size fits all process –what may work for one company, could be totally unsuitable for another. In order to be effective, the process requires the expertise and support of specialists who can work closely with the management team and other key stakeholders to devise and deliver an appropriate plan.

Here at Pannone Corporate, we’re experts in providing pragmatic advice to businesses of all sizes across a wide range of business sectors. Our Corporate Recovery team can help identify and implement the best solution in so far as restructuring is concerned – all done in a way that is tailored to your current needs, with a focus on you future strategic objectives.

Over the coming weeks, we’ll be developing a series of blogs to give business owners all the information they needs about the options available to them when it comes to restructuring. You’ll hear from a range of specialists as we cover:

• General restructuring
• Administration (including pre-pack sales)
• Company Voluntary Arrangement (CVAs)
• Other formal insolvency options.

If you need restructuring advice now, don’t hesitate to contact one of our experts. We’d be happy to help. Contact restructuring and insolvency partner, Daniel Clarke on  (0) 7920 237687 or email daniel.clarke@pannonecorporate-com.stackstaging.com

Pannone Corporate has advised on the sale of Bury FC’s stadium, paving the way for the return of football to Gigg Lane.

Richard Wolff (insolvency & restructuring partner), James Wynne (real estate partner) and Oliver Moore (insolvency & restructuring), advised Inquesta Corporate Recovery & Insolvency – the administrator of The Bury Football Club Company Ltd.

The ground, along with other assets including club memorabilia, goodwill and intellectual property, and the Bury FC name, have been acquired by newly-formed Gigg Lane Stadium Limited – a company limited by guarantee whose members are the Gigg Lane Propco Limited and Bury Football Club Supporters Society Limited.

Richard Wolff said: “Today’s announcement is not only a positive result for the parties involved, but also for football, Bury and its local community. As a firm, we’ve been able to bring together our expertise across restructuring and real estate to support the process over the past few months and achieve the best possible outcome for stakeholders.”

Inquesta announced in May 2021 that the 12,000-capacity stadium was being put up for sale. Gigg Lane is one of the world’s oldest professional football stadiums and has been home to Bury FC since the club was founded in 1885.

Steven Wiseglass, a director at Inquesta, said: “We are delighted that this transaction has been successfully completed. It is a fantastic outcome for the fans, the club and the whole town, as it will hopefully bring football back to Gigg Lane. My hope all along has always been that Bury FC could be rescued.”

The Bury Football Club Company Ltd remains in administration and Inquesta is continuing with investigations into the company.