Because sometimes it doesn’t go to plan..
1. A COACH OPERATOR:
A classic turnaround, introduced by the IP
Quite simply the firm had run itself into the ground with the ageing MD being unable to keep abreast of how the business was run.
The turnaround involved 2 key employees investing & taking an active management role and the old MD gradually retiring.
Using the value in the debtor book and – in particular – the coach & bus fleet we were able to structure a deal which satisfied the creditors and allowed them to implement their plan.
Based around a considered plan, the failure needn’t be the end!
2. THE SPECIALIST ENGINEERING FIRM:
Not a turnaround in reality, as the business was sound, with a great order book and a fantastic reputation.
Not for the first time, the problem here was divorce. One of the owners was involved in a particularly messy divorce. To compound the problem he had dipped his hand into the tax fund to attempt a pay off.
Faced with pressure from HMRC and a wife still demanding more, we received a call from their business consultant.
In just a week, we were able to raise £500K against their plant & equipment – enough to make both HMRC and the ‘ex’ happy.
We look for the solution more than the cause!