Our first aim when a company finds itself with financial challenges is to assess its viability and to identify what can be done to return it to profit.
We are very aware that temporary cash flow problems can often hide a genuinely profitable business.
A business turnaround requires a clear strategy and determined objectives. Retaining the business infrastructure may be key to future viability and our team will guide you through informal, as well as formal turnaround and insolvency processes. If necessary, we can obtain protection from creditor claims to enable proposals for restructuring and refinancing to be put in place. Where there is no alternative other than to cease trading immediately, we can advise on procedures to place the company into liquidation.
We will consider, with you, the options of:
- Administrations - a company or LLP in difficulty, but which has some hope of recovery, may be put into the charge of a legally-appointed administrator. Taking on the role of administrator, Mercer & Hole’s licensed insolvency practitioners are able to take control of the business to rescue or liquidate it effectively.
- Company Voluntary Arrangements (CVA) – Mercer & Hole’s licensed insolvency practitioners can help a company or Limited Liability Partnership (LLP) to survive by executing a CVA, whereby a plan of reorganisation and composition in satisfaction of its debts is put forward to creditors and members.
- International and cross border issues – when insolvency threatens, you must assess the values and risks of foreign connections, and the UK and international laws and practices that apply to them. Specialist advice is essential, which we can provide either directly or through Mercer & Hole’s international alliance of insolvency professionals, accountants The International Accounting Group (TIAG) and lawyers (TAGLaw).
- Liquidations - where companies have no alternative other than ceasing trading immediately, we can advise on appropriate liquidation procedures.
- Turnarounds - as both chartered accountants and insolvency practitioners Mercer & Hole’s experience in dealing with financial distress – knowing what can and cannot be done – and our access to specialist funding sources, gives us an additional perspective, enabling us to evaluate and support a distressed company’s turnaround plan.
- Corporate Finance - Mercer & Hole’s knowledge and contact with lenders, banks and other financial institutions enable us to introduce the right type and level of financing to meet business requirements for the short, medium and long term. This includes traditional overdraft and bank loan facilities, as well as asset based finance, invoice discounting, factoring and commercial mortgages.