An informal restructuring proposal or turnaround could be viable for companies with less complex issues and few creditors. It is important to recognize the early warning signs of financial difficulty. Informal workouts have a greater chance of succeeding if they are implemented when your business is viable and before your finance problems become too serious. It is critical that your creditors do not lose confidence in your business.
We can assist you with the following:
Informal workouts may not work if there is an insurmountable level of debt amongst a large number of creditors. This can be further exacerbated when certain creditors, banks or government bodies begin taking steps to recover their debt. In these circumstances, a Formal Restructuring may be required to resolve your financial problems.