Turnaround Management

What is Turnaround Management?

Turnaround Management is where the Company has had a setback which has caused the Company to have outstanding debt with its suppliers.

An example of this is where a minor or moderate debtor is unable to pay a Company for its services, however the Company has already paid for and provided the debtor with its goods or service. Like a manufacturing Company building parts for a debtor which is installed in the debtor’s finished products but the Company has not been paid the final two payment instalments. Given that the debtor has not paid, the Company may not be able to pay all of its creditors as and when they fall due.  Whilst this may be a setback for a number of months, it may not be fatal to the Company. 

As long as the Company’s business is viable long term, turnaround management may be an option. If the Company’s business is not viable long term, it is better to look for another way to progress forward for both the Company’s business and the Director(s). When we work with Company Director to turn the Company around, we will make an initial assessment to determine if the Company’s business is viable long term and discuss our findings with the Director(s). We utilise our turnaround management skills, when we restructure a business or utilise safe harbour.

How can we help?

Interested in seeing how we can help you? Click on the Book an Appointment button to schedule an appointment to see if we can our turnaround management strategies including safe harbour are right for you. You have everything to gain and nothing to lose by talking to us today.

What You Should Know

At times we have had to complete turnaround management projects with Companies because of the structure of the business or due to licensing. Where both the husband and wife are joint directors and own real property, we have completed a turnaround management project and suggested an alternate directorship structure to reduce the quantum of any claims able to be made by a Liquidator over the real property owned if the company was placed into Liquidation in the future.

Many states in Australia do not allow for a tradesperson to be in a management position of a Company that has been Liquidated and retain their trades licence. Accordingly, these cases need turnaround management strategies in order to survive a period of poor financial performance.

We can help you today. 

Book a Consultation

Interested in seeing how we can help you? Click on the Book an Appointment button to schedule an appointment to see if we can our turnaround management strategies including safe harbour are right for you. You have everything to gain and nothing to lose by talking to us today.