Introduction to Smith Cooper Turnaround Recovery & Insolvency Presentation to Alliott Group. May 2014

Transcription

1 Introduction to Smith Cooper Turnaround Recovery & Insolvency Presentation to Alliott Group May 2014

2 About Smith Cooper We have a fresh approach to accountancy. Our people pride themselves on working diligently and flexibly in everything they do for individuals and businesses. We know everyone s needs and priorities are different, so we offer a broad range of services from tax matters to IT systems. We ll respond to them intelligently, efficiently and cost effectively. Whatever the circumstances, Smith Cooper make everything add up.

3 Contents About us Turnaround Recovery and Insolvency Key contacts

4 About us Increased offering:- Pro-active / commercial advice to distressed businesses; Dealing with negotiations with HMRC / working capital issues; Stakeholder reviews - viability / employer covenant / IBR s; Forecasting / strategic advice; Distressed mergers and acquisitions internal and external; Advice to businesses within intensive care units; We will endeavour to meet with your client within 24 hours Initial / no obligation meeting without charge We will keep you informed at all times Project managers bringing in and drawing on other disciplines

5 The spectrum in which we operate Pressure Points Pleasure Points Weak / Fragile Exceptional BRIS CF Below Average Above Average Average Performers

6 Turnaround

7 Introduction to turnaround Our turnaround team has a wealth of experience in the strategy domain and we advise small to medium sized family-owned firms We help to create well-crafted strategies with practical plans to ensure successful implementation Business turnaround with a clear sense of direction

8 Introduction to turnaround Our aim is to restore commercial viability and help your clients through their difficult times When your clients are under pressure, our dedicated team will help them to:- - stabilise their cash position - identify the root causes of the problems experienced - develop a critical path - identify any barriers to success - develop solutions and strategy and assist in its implementation - support the finance function - negotiate with funders - progress viability reviews

9 Turnaround experience/credibility Recent assignments - 4m turnover specialist printers - 12m turnover catering butchers - 3m turnover haulier and waste management firm - 12m turnover specialist rail contractor company Many of the above assignments are once again profitable, stable, liquid businesses who have been returned to front line banking

10 Recovery & Insolvency Services about us Focused on business recovery not insolvency Practical and commercial approach Frank and candid pro active advice Real understanding of owner managed businesses Dedicated, responsive team

11 Recovery & Insolvency Services about us Specialism's include but not limited to: - business / stakeholder reviews / forecasting - negotiating repayment of crown arrears ( TTP ) - liaising with ABL s re extension of payment proposals - employer covenant reviews (defined benefit schemes) - distressed mergers and acquisitions - Company and Individual Voluntary Arrangements - Administration, Administrative Receivership, - Creditors Voluntary Liquidation - Law of Property Act Receiverships - Member s Voluntary Liquidations (solvent liquidations) - Personal Bankruptcy

12 Issues which could indicate our involvement is needed Accumulated crown arrears/creditor pressure Withdrawal of banking facilities/inability to re bank Sudden request for increased facilities Knowledge of future industry changes affecting an already weak customer Knowledge of financial/other issues with main customer Bad debt(s) Loss of future orders/pipeline Wholesale redundancies Winding up petitions

13 Timing is everything survival / continuation profit improvement turnaround deed of arrangement / CVA distressed mergers & acquisitions ( pre-packs ) insolvency / failure

14 So in a nutshell, why work with Smith Cooper? Key messages Our primary focus is to preserve your client s business A continuing business is a continuing client We offer straight forward pro-active advice at an initial free no obligation meeting We are reactive and will endeavour to meet with your client within 24 hours of instruction We are able to provide you with a breadth of service that we believe our competitor s do not offer We have credibility with clearing banks and HM Revenue & Customs Your customer s will thank you for introducing us to them

15 Restructuring Rescue & Corporate Recovery Smith Cooper provides practical, proactive commercial advice on business viability, profit improvement and corporate strategy to the owner-managers and financiers of distressed and under-performing SMEs. If your business is struggling and time, new ideas and working capital are in short supply, it can be difficult for you as an owner-manager to formulate an action plan that addresses the problems you re experiencing. Left unaddressed, decline will typically end in a failing business; and it s our job to prevent that from happening. Using our hands-on Corporate Recovery experience, Smith Cooper can help formulate, communicate and implement a strategic restructuring and turnaround plan that works for the business and its main stakeholders. Comprising not insolvency practitioners, but business advisory experts, the very make-up of our team demonstrates our commitment to turning your business around. Our involvement adds credibility with all main stakeholders, particularly HM Revenue & Customs, and demonstrates that your business is working proactively to address its current difficulties.

16 Business Recovery & Insolvency If you or your business is experiencing financial difficulties or cashflow pressures, Smith Cooper can help provide candid, proactive commercial advice on your options when you need it most. Financial pressures present themselves in many ways: a statutory demand, a winding-up petition, inability to pay amounts due to suppliers including the Crown, a bad debt, or personal guarantees being called upon. Time is of the essence with debt matters and the sooner we are able to understand the problems you face, the more likely we are to be able to provide options and acceptable solutions for all parties, including main stakeholders and your creditors. We appreciate that at times like these, the demands on your finances are high and cash is not readily available. For that reason, your initial meeting with one of our insolvency specialists will take place free of charge. At this point, we will determine your financial position and discuss the best strategic options for you to adopt at this most sensitive and pressured time.

17 Key contacts Dean Nelson Partner (Business Recovery & Insolvency) David Nelson Partner (Business Advisory Services) Michael Roome Director (Business Recovery & Insolvency)

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