Our Restructuring Partner, Chris Laughton, is Editor of Mercer & Hole’s Corporate Restructuring News. In this introduction he considers the next steps as we look ahead to the easing of lockdown restrictions. Chris highlights insightful articles the restructuring team have written to help support businesses with recovery from the impact of the pandemic.
March 2021 has been a time of hope as the pandemic has eased in the UK and almost 60% of the adult population has received a first dose of a coronavirus vaccine. Meanwhile, 57% of businesses are now said to be confident about the future, up from 33% in May 2020.
With Easter has come relaxations of restrictions. Although social distancing remains, Stay Home has become Stay Local, and pubs, shops and hairdressers are about to open.
Some businesses need, and can afford, debt finance to achieve their immediate goals. Ed Ellis describes what we have been doing to help clients in this respect and outlines what is available.
For those who are not yet sure how to identify and implement the solutions they need in order to overcome the challenges that the pandemic presented for their business, Henry Page explains our approach to recovery planning. With links to our One Page Plan and a financial checklist, the intention of this article is to encourage businesses to plan their way to a brighter future, however dark things may have seemed.
Dominic Dumville shares his insights into what the Chancellor didn’t say in the Budget. A feelgood Budget it may have been, but it also covered up some awkward truths about just how hard hit many SMEs have been and how some of the support on offer from the government won’t always work.
And, finally, Louis Byrne sets out how we look at the options for troubled businesses and describes some of the tools we use to rescue them. It’s not just a case of going bust. A little planning and forethought will mean a constructive solution will still be available, with expert professional help.
We have a variety of ways of helping the many stressed and distressed businesses that are trying to recover from the effects of the pandemic. The sooner we’re asked to help, the more options will still be available and the better the outcome is likely to be.