We can assist you with the following:
- Reviewing your business and recommend changes to improve operating efficiency, reduce overhead and improve your cash flow
- Preparing financial projections that are credible and developing a turnaround plan that is achievable
- Negotiating a Forbearance Agreement with your bank that will allow you to execute your turnaround plan
- Locating alternative sources of financing such as mezzanine or asset-based loans that may be acceptable to your bank
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.