When administration, receivership or liquidation is deemed not appropriate by company directors they may require the professional assistance of an independent insolvency accountant to provide advice on resolving their financial situation.
In some instances, a formal appointment of an Administrator, Receiver or Liquidator is deemed inappropriate by the directors of a company. In these cases it may be suitable for an informal arrangement to be offered to creditors with the assistance of PKF Australia.
In today's volatile business environment - where bad news on the other side of the globe can change local economic conditions overnight - even the best businesses can find themselves in trouble with little or no warning. No matter the cause, quick action is essential if your business is struggling.
A swift response to business distress greatly improves the chances of a successful turnaround. It creates the potential to isolate the problem to a particular part of the business and maximises the available options. Rapid action is consistent with the demands of today’s corporate regulators, financiers and shareholder groups.
PKF Australia business advisers have wide-ranging experience in turning around businesses of all sizes and across numerous industries. We specialise in helping companies move from a period of loss to profit and negative cash flow to positive cash flow. Our experts can quickly identify the root causes of business decline and work closely with you to take remedial action. Areas of assistance can include:
- rapid review of the business’s current situation including solvency, cost and pricing structures and competitive strengths and weaknesses
- identification of remedial options. All options will be considered – from refinancing to restructuring to winding up – allowing the owners and/or board to make fully informed decisions
- assistance with implementation of the chosen strategy
- establishment of reporting processes focusing on frequency and detail, allowing close monitoring of performance during the turnaround period
- dispassionate, independent advice on any aspect of the business during a challenging period.
No matter the cause of business distress, PKF Australia helps advise on the best course of action to take whether it be restructuring in order to sell or winding up your business to minimise further losses.
If you would like to discuss our specialist Business Recovery and Insolvency services and how we might be able to assist you, please phone our Sydney office (02) 8346 6000, Melbourne office (03) 9679 2222, Adelaide (08) 8373 5588 or Newcastle office on (02) 4962 2688.