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 firstname.lastname@example.org
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