When the best intentions and plans fail and cash resources dry up, the directors of a company will have to consider all the options open to them. Most directors do not have prior experience of dealing with this traumatic time.
Use our experience to advise you whether you are able to:
- trade out of the situation;
- compromise terms or indebtedness with creditors;
- appoint a business rescue practitioner in terms of the Companies Act;
- liquidate the company and optimise recovery of your investment;
- sell the company or part of it.
We can assist you in:
- advising on directors’ responsibilities and governance;
- making the appropriate choice of action;
- establishing the working capital required for each option;
- preparing budgets and cash flows;
- devising profitability programmes;
- negotiating additional loans;
- valuing the company;
- selling the business;
- dealing on your behalf with business rescuers, creditors, bankers or liquidators.
By proper planning, forecasting and monitoring, you can minimise your risk of failure. If however your company still gets into business distress the earlier you take advice the better your chances of recovery.