What we offer
We offer a focused resolution to challenging commercial situations – whilst understanding the realities and sensitivities of operating businesses in today’s marketplace, we also adopt a practical and robust attitude to acheiving results.
We complete difficult and complex projects successfully, after agreeing clear objectives and deliverables with stakeholders.
Stabilisation
Refinancing
Strategic Planning
Resource
Working capital/cash flow management
Extensive experience dealing with banks
Strategy development and implementation
Non-executive roles
Crisis management
Chief Restructuring Officer placements
Financial modelling and in depth data analysis
Interim assignments
Covenant breaches/renegotiations
Forced sales/disposals
Business reviews
Project management
Stakeholder management
Post acquisition implementation and restructuring
Performance improvement
Refinancing advisory services
Whilst it is not always essential that an organisation offering turnaround and restructuring services has worked in your direct field of operation, it is important that a track record has been established with relevance to your particular circumstances and requirements.
In order to provide a clearer understanding of the breadth of experience we possess, a reference guide has been created in the Case Study section of this website, where the relevance of our expertise can be established through Business Type, Turnover and Business Sector.
Services to Banks
Between us we have many years experience working with and reporting to all the major banks. We understand that insightful analysis, assessment and judgement of a company’s performance and prospects is built upon information and data – be it management accounts, cash projections, security analysis, strategic reviews or investment proposals. Our fundamental approach is to ensure that all information must be concisely, accurately and clearly presented, supported by thorough analysis and updated regularly, as appropriate. Working together with banks and companies we can:
- Rebuild relationships and trust between company and lenders
- Manage cash and working capital
- Develop and implement recovery plans
- Dispose of assets
- Protect and enhance bank security
- Evaluate and manage refinancing of businesses
Services to Management
Managing a business that is in severe distress is an experience that chastens even the most experienced of managers. When a business is in trouble the demands placed on the executive team from lenders, reporting accountants, pressing creditors, HMRC, nervous customers, disaffected employees, investors, boards and other stakeholders are of a magnitude that places even the most hard working and resourceful of management teams under a huge strain.
Executives constantly protest that if they could simply get on with managing the business the problems would be sorted out. However, such are the demands of managing a business in distress, this luxury is not an option. The key is to recognise the reality of the situation and to seek additional, experienced resource to deal with it. That is where we come in. For you, crisis management is the exception, for us, it is the norm. We work alongside management teams calmly and authoritatively to help stabilise your business. Whilst our work varies from company to company, typically we will:
- Manage relationships with lenders and reporting accountants
- Assume responsibility for cash and working capital management
- Liaise with creditors, trade insurers, regulatory bodies
- Free executive team to focus on the business
- Manage communication strategy
- Undertake strategic reviews
- Implement recovery plans
- Manage a refinancing of the business
Our involvement can be in an executive capacity or an advisory one, but either way you can be assured that you will benefit from our years of experience working alongside teams in similar positions to the one you find yourself in.
Services to Investors
Typically, investors in businesses that are distressed (or at least perceived to be in distress) face 2 key questions:
- What is the true position of the company, and;
- What can be done to preserve investor value.
Having worked with many distressed businesses over the years it’s fair to say that we have seen most situations before and can draw upon our experiences to very quickly start determining where a company is on the performance curve and where it’s headed. Whilst a thorough assessment and review might take weeks we would seek to provide informative feedback within a matter of days. In parallel with this we would look to recommend and, if mandated, implement all necessary measures to preserve shareholder value with immediate effect.
Determining where a company exactly is on the ‘map’ is simply the first stage in a process. Subsequent stages depend upon individual circumstance but could include:
- Taking an executive position within the company
- Development and implementation of a recovery plan
- Operational and / or financial restructuring
- Disposal / merger
- Refinancing / debt renegotiation
The choices are myriad but we are confident that we can provide independent, objective advice to enable the investor to make the correct decisions.
Services to Non-Executive Directors
In the eyes of the law all directors are expected to play a full and proper role in the running of a company – critically, there is no distinction between an executive and a non-executive director. This imposes an equal burden upon all Board members including non-executive directors who, whilst they are usually removed from the day to day running of a business, cannot plead ignorance as a defence.
Where a company is in distress the directors’ primary duty of care transfers from the company to the creditors with an obligation to minimise losses to creditors. A failure to have due regard to these interests can leave a director liable to sanction under both criminal and civil law. For many non-executive directors this is a very hazardous journey where they have neither the time nor the necessary skills to determine the true state of a company’s financial position.
At BOSS we have years of experience between us working in this ‘twilight’ zone, we can rapidly provide you with an independent and objective report on the financial status of your company and an assessment of the consequent risks.
