There are a number of business rescue experts who are able to consider with the business a business turnaround plan tailored to that business, with a view to business recovery and company rescue.
A business rescue expert should have many years of experience with directors of distressed businesses and have a wide range of hands on experience with all types of businesses. A business rescue expert may have a legal background or may be an accountant or have a business background. The important thing is, that they can back up their credentials with experience and evidence of successful business restructurings and business turnaround and business recovery.
Legal business rescue experts
There are many teams of business rescue experts that operate within law firms in the United Kingdom. These teams will have many years of experience between them dealing with companies in distressed situations and will have a good record of business recovery and company rescue.
- Our lawyers at Francis Wilks & Jones act on business turnaround situations and have a expert knowledge of the legal issues involved;
- we also have great commercial knowledge of the business and market sector in order to be able to advise fully a specific business sector requiring business recovery and company rescue.
Inevitably the first thing a business rescue expert would do would be to discuss the issues facing the business requiring business turnaround, and whether some form of business restructuring or company restructuring might be required to avoid a formal insolvency process if possible. This will all fall under a business recovery strategy and any business rescue expert who doesn’t suggest a business recovery strategy or business recovery plan is unlikely to help you succeed.
Insolvency practitioners
Whilst there are inevitably good business rescue experts outside of the legal and insolvency practitioner’s world, a qualified insolvency practitioner is very well placed to provide business rescue expert advice for businesses. They have a hands-on approach to business recovery and are usually experience in many types of market sectors in a very practical way. An insolvency practitioner is a specifically qualified accountant who can devise a business rescue strategy with you and will inevitably help you in any business turnaround situation and will work with a business recovery lawyer to achieve company rescue.
At Francis Wilks & Jones we will be able to provide you with advice on business rescue, or work with an insolvency practitioner with you in order to bring about a successful company rescue. Contact our experts today to take the first steps.
