Published: 03/04/2020 By Andrew BaileyThe present situation in the UK has taken everyone by surprise and unquestionably the impact upon businesses will only become clearer over the coming months.
Within the insolvency profession we are all prepared to support businesses and their stakeholders and assist where we can. The challenges being faced are unprecedented but as insolvency practitioners and turnaround specialists we hope it provides comfort that there is no profession that is better prepared and equipped to deal with these difficulties.
Through the nature of our work we develop skills in not just insolvency procedures but looking at finance options as well as informal negotiations with stakeholders to find innovative and bespoke solutions.
For many of us we feel that these skills to negotiate and to effectively assist as intermediaries between businesses and stakeholders is going to be a key element of our work in the coming months. We want businesses to survive so that they can come out of this challenging time in good health.
It is possible as demonstrated by a recent example of a London high street business where we successfully assisted with an informal arrangement, sale of a business and re-finance that not only preserved the business, maintained employee jobs but then allowed the new owners to plan for the future.
We are very proud of the following testimonial we received:
"It seems incredible that just over two months ago, when we first met you and Martin, we were looking at a costly liquidation process and now the whole business has transferred to new partners that have exciting plans to take the business forward. I want to say a very big thank you to you and your teams."
Mr C - February 2020