At Francis Wilks & Jones our team of business rescue experts are often asked by business owners experiencing financial difficulties for advice on what business recovery options are available for their business to overcome their problems and turn the company around, fast.
Our two decades of experience advising business owners really counts
Francis Wilks & Jones’ team of business recovery experts have many years’ experience of advising and acting for companies requiring business rescue. In these difficult times, this advice can mean the difference between a company’s success or failure.
One undeniable factor in a successful business rescue is that the earlier a company seeks help, the more options are available to it, and the greater the chances of a successful turnaround. Burying your head in the sand may be tempting when things become overwhelming, but in the long run, it will do more harm than good.
At Francis Wilks & Jones our team of experts can review all the issues faced by your company and look at what options are available to you. Contact us as soon as you believe that you company is facing solvency issues to see where we can help.
Options available to you
There are many different options open for business rescue. An important aspect of business recovery and business turnaround is that there is a viable underlying business to rescue, despite some short-term problems.
Unfortunately, a business owner dealing with problems in the company for some time can be too busy firefighting and not see the wood for the trees. Our job is to create focus, to work with you to create a successful business rescue strategy that will work for you and your company.
In any business turnaround it is vital that a business rescue strategy is developed first, taking into account the particular company’s situation, the market, the position of customers and suppliers, and the availability of funding for the company.
Business rescue options might include for example:-
- An informal restructuring of the management team, and/or the employee base.
- A full review of the debtor situation to regain control over the collection of debts of the company to aid cashflow.
- Reaching an agreement with creditors, either on a formal or informal basis, to give some breathing space to the company to recover
- Looking at additional methods of financing the company and increasing cashflow, whether through short-term cash injections, refinancing, sale of non-core assets or by way of equity injection, amongst others.
- a de-merger of the non-performing parts of the business.
Whatever your company’s situation, we can help. Our team of experts work alongside leading experts in the industry, including insolvency practitioners, and financiers. Between us we can help you see your way through your business difficulties and bring about an effective business rescue. Talk to us as soon as possible and one of our team of friendly advisers can discuss your options.
Whatever your situation – we can help
We have also set out below our answers to the common questions we get asked on this subject.
We look forward to talking to you and doing what we can to assist.
Common questions answered
1. How does business rescue work?
For a director of a company that may be struggling financially, it is advisable to seek advice from an independent business rescue expert on a tailored business recovery strategy for your business. They will review with you whether business restructuring or business recovery may be suitable for your company to bring about company rescue. Understandably, a director of a business facing financial difficulties will want to know, what does business rescue mean, and how does a business rescue work? We set out below some explanatory information on company rescue and business recovery.
2. How long does business rescue take?
A company suffering financial problems will understandably look to try to bring about a successful business turnaround and company rescue as soon as possible, and one of the key considerations for directors approaching the team at Francis Wilks & Jones is how long does business rescue take? At Francis Wilks & Jones we can talk through the various business rescue options with you, so that you will be armed with all the information on the best route available for your particular business turnaround situation. Let our business rescue experts discuss with you a practical business recovery strategy and can we can go over how long does business rescue take.
3. What happens when a company is in business rescue?
A director of a company in need of a business recovery strategy and company rescue, will inevitably want to know what happens when a company is in business rescue? What happens when a company is in business rescue very much depends on the business recovery strategy that has been decided as being the best option for the company requiring company rescue at the time. It is therefore subjective to each individual company, but we set out below some of the key elements of a company rescue and business turnaround situation.
4. What does business rescue mean?
We are often approached by directors of a company that may be experiencing financial difficulties to ask for advice from our team of business rescue experts on whether business recovery may be possible with their company difficulties. At Francis Wilks & Jones we have a team of business recovery experts available to look at a business recovery strategy with directors of a company which may find itself struggling.
5. What is the purpose of business rescue?
We are frequently asked by directors of a company which may be suffering financial problems, what does business rescue mean, and what is the purpose of business rescue? At Francis Wilks & Jones we have an expert team who deal with all aspects of company restructuring, business turnaround, and more formal insolvency processes. We can talk through the options with you for you to understand what is the purpose of business rescue for your particular company.
6. Company rescue
At Francis Wilks & Jones we frequently deal with businesses in need of company rescue. What this actually means is different depending on the difficulties for the business looking for a company rescue. There are many different options when looking at business turnaround and business recovery, including business restructuring. However, the starting point is usually to contact a business rescue expert to devise a suitable business recovery strategy for your business.
7. Business rescue expert
Any company requiring a company rescue in order to bring about business recovery will inevitably have a better chance of success if they speak to an independent business rescue expert to discuss their specific issues. However, there is often some confusion as to who is a business rescue expert. We set out below some examples of business rescue experts.
8. Are shareholders liable for debts in a business that requires rescue?
When a company is in financial difficulties we are usually instructed by directors or creditors of the company. However, often shareholders will also concerns as to what their role is when a company is in financial difficulties. We set out below some information that may assist.
9. How to deal with suppliers and customers during a period of business rescue
Where a company is facing financial difficulties it can be a very difficult juggling act for directors to maintain supply lines and deal with customers during difficult periods of cashflow. We discuss below some key tips for dealing with suppliers and customers whilst bringing about a business rescue and avoiding potential pitfalls along the way.
10. What is a pre-pack sale and can it help my company?
At Francis Wilks & Jones we frequently act for companies on pre-pack administration sales, either in the selling or the buying of the same. They can a very effective rescue tool for some or all of a company’s business if used at the right time, in the right situation. We set out below some of the main points around what these are, and how they might help your business.
- 1. How does business rescue work?
- 2. How long does business rescue take?
- 3. What happens when a company is in business rescue?
- 4. What does business rescue mean?
- 5. What is the purpose of business rescue?
- 6. Company rescue
- 7. Business rescue expert
- 8. Are shareholders liable for debts in a business that requires rescue?
- 9. How to deal with suppliers and customers during a period of business rescue
- 10. What is a pre-pack sale and can it help my company?