Triage - Corporate Health Assessment
When we are called in we first need to assess the problem in the context of the entity's operations and the type of trade or industry or charity sector that the entity is in. Depending on how critical the problem is will govern the length of time available within which we can act and the nature of the stabilisation plan required. In critical cases the objective of the stabilisation plan will be to ensure that the entity can continue to operate and steps are often taken in conjunction with the directors/trustees/owners/managers and other stakeholders such as the bank, other principal creditors, employees etc of the entity. Such steps can often include an assessment of working capital management to minimise cash outflows and maximise cash inflows to optimise liquidity and a review of operations to determine, for example, the potential for rationalisation through the disposal of non-core or unprofitable business divisions or their closure, the sale and leaseback of high value premises or other assets etc. Sometimes new or additional finance is required as part of a rescue package and we can assist in raising finance whether from conventional lenders, asset finance providers or equity investors.
Over the years we have assisted numerous different types of entities overcome their difficulties, including companies, professional firms and charities, whether registered with the Charities Commission or just incorporated as a Company Limited by Guarantee. Quite often we are given a watching brief to ensure that the turnaround plan devised for the particular undertaking is successfully implemented, or we provide interim management to actually drive that implementation through to completion.
If you operate a company or charity which has business or financial problems do not ignore them in the hope that they will go away. Too often the problems increase beyond the point of no return, so call us today - it could be the most valuable call you have ever made.