Our team has the experience and skillset to apply sound practices of turnaround management to successfully navigate distressed businesses through the corporate renewal process. Via early intervention and an expert and collaborative approach, we give businesses the best chance to recover and then succeed.
With a fresh set of eyes, our team is able to come in with complete objectivity – able to analyse and see solutions that people too close to the business simply can’t see.
This objectivity is also advantageous when critical decisions need to be made – a significant part of the turnaround process. To stop a company going under, difficult decisions are required quickly. That’s why a Turnaround Specialist is vital.
There are a number of circumstances where a Turnaround Specialist can help businesses stay afloat, including:
We follow a proven process in order to turnaround your business before it’s to late. Our 5 steps to success are as follows:
We begin by embarking on a fact-finding mission to see where the business currently sits; what the severity of the situation is.
We need to rectify the situation the business finds itself in. And change is only possible when the leadership is on board. Any leaders that are resistant may need to be replaced.
The first act is to establish a positive cash flow, quickly. Then we outline a plan to restructure outstanding debt obligations, improve working capital management, reduce operating costs, improve budgeting practices, correct product line and customer mix pricing, prune product lines, and accelerate high-potential products.
Once the ship has been steadied, turnaround efforts are directed toward making the remaining business operations effective and efficient. The company must be restructured to increase profitability.
In this last step, the business slowly returns to profitability. While earlier steps concentrate on correcting problems, the final stage focuses on institutionalising an emphasis on profitability and return on equity.
Where possible, we’re committed to ‘turning around’ businesses. If that’s not viable, we act swiftly to mitigate losses
We work with you to find the best possible solution for everyone involved.
As Registered Liquidators and Registered Trustees in Bankruptcy we have the expertise and authority to act.
You can count on us to remove uncertainty and provide expert commercial advice in a timely manner.