Businesses face many challenges over the course of their operations. Our team understands that every business is different and the range of factors at play when faced with challenging times is just as unique.
As with any business recovery, timing is everything. Paying attention to an early warning could mean the difference between saving a business or it being forced into liquidation. Options may include restructuring to sell or help the business trade out of difficulty, or winding it up as quickly as possible to minimise further losses.
How BDO can help
BDO can objectively assess the situation and put plans in place for the best course of action. Our turnaround process is designed to:
- Investigate a business’ viability and working capital requirements
- Evaluate the options available to reverse under-performance and repair working capital
- Create and implement an agreed turnaround and growth strategy
- Monitor business’ future performance
- Deliver interim and crisis management
- Provide interim CEO/CFO support.
Our solutions are always tailored to the circumstances at play and informed by technical expertise drawn from BDO’s full audit, tax and advisory services. We work with businesses to adopt the right approach and achieve the best outcomes for the benefit of secured and unsecured creditors and other stakeholders. We have a long history of working closely with financial institutions, law firms and other accountancy firms to secure the best outcome for all parties.