Restructuring

At PSB, we have a wealth of experience in advising different types of businesses and use this to discuss restructuring ideas with a company’s directors as a first option. In many cases, financial difficulties do not mean the end of a business. Now, more than ever, we are seeing the need for businesses to ‘pivot’ and diversify what they do to adapt to the changing landscape.

Restructuring a business at the right time can enable it to continue, often successfully, for many years.

For some businesses, examples of basic restructuring can include:

• informal negotiations with creditors,
• working through cashflow forecasts to enable better cost management,
• adjusting business processes to ensure simplification or streamlining,
• changing product lines or sales outlets,
• refinancing existing debts,
• obtaining additional financing, in specific circumstances

In some cases, it is not possible to informally restructure a business to adequately improve its financial position. At this stage, a more formal insolvency process may be required. This could be in the form of:

• Company Voluntary Arrangement (“CVA”) -
• Administration - 
• Pre-pack Administration - 

For further options, please also see our Corporate Insolvency services