We are experienced in all aspects of turnaround and the rescue of under-performing businesses. Business turnaround may involve reporting quarterly to a lender or to creditors whilst the company is undergoing change and creditors require independent reports from a Licensed Insolvency Practitioner as to the progress of the turnaround. We do not believe that Turnaround is an easy process.
Our involvement may lead to changes in management, products or staff. We may advise downsizing, or merging with either similar or suitably fit organisations.
We assisted a couturier based in Knightsbridge who owed debts of more than £200,000 to trade creditors and Government departments. We investigated the reasons for the losses that related to certain personnel and unsuccessful lines that the company were selling. We went through the various issues with the director who made changes based on our advice. We negotiated with the creditors and the government departments, explaining the reasons for the company’s liquidity problems and agreed long repayment terms. We monitored the company monthly for two years, by which time ALL CREDITORS WERE PAID OFF IN FULL 100 PENCE IN THE £. The company continued trading successfully and Sinclair Harris were engaged as consultants for another two years attending at the company on a quarterly basis until the director could manage the business on her own.