This is the time for a Board to stand up, take responsibility, regardless of whose fault it is, and work towards overcoming adversity against all odds. Engaging a firm with a proven track record in turning around fledgling businesses is often the first port of call.
Can we turn things around for you?
The Madgwicks Insolvency & Reconstruction Team has worked with businesses across a large variety of industries to implement corporate restructures when facing financial difficulties. Our experience includes turning around companies who have been in the midst of liquidations and voluntary administration.
Our team fully understands the risks at stake – and they extend well beyond just the financial ramifications of company insolvency. There are personal reputations at stake and employees who rely on their incomes to make ends meet. Therefore, our objective is to minimise losses and work through the options that will allow a business to resolve their problems and continue to trade – in some capacity.
In the instance of a restructure, our team brings in other experts within Madgwicks who can advise on matters relating to corporate governance and compliance, workplace relations and handling redundancies, asset protection and raising enough capital to continue operations.
Should insolvency proceedings begin (or have already started), we work hand-in-hand with company directors that have been threatened with personal bankruptcy and are having their personal wealth and assets examined. We also act for businesses to defend litigation initiated by insolvency practitioners – for example, insolvent trading, breach of duty actions and litigation based on guarantees.
If your business is facing financial difficulties, you need a legal partner that will provide pragmatic advice to get the best out of a bad situation. Contact us today to help you steer the ship in the right direction, negotiate with creditors and regulators and ensure that damage is kept to a minimum and reputations are kept intact.