A chain of licensed premises was facing cash flow issues and their bankers had commissioned an Independent Business Review. In summary, this concluded that the business was insolvent and needed to be restructured.
Denise Walker was asked to advise the management team on options for the business. Working with Corporate Finance colleagues, she devised a restructuring plan that provided for the disposal of loss making outlets and left the remainder in a stronger position to weather difficult trading conditions.
Despite the bank and investigating accountant’s initial scepticism, they were persuaded through a punishing round of meetings and reports. Eventually providing increased working capital facilities.
The restructured business is going from strength to strength.