Business Rescue

Where a business is facing financial distress or insolvency, we may be able to help save it if action is taken early enough.

What is business rescue?

Virtually all insolvency practitioners have adopted business rescue or similar as their new area of expertise.

For most this is simply a title in the hope of generating more insolvency work.

What does F A Simms & Partners Plc mean by business rescue?

Business rescue is about teamwork. The team includes some who are there by choice and others who might prefer not to be involved.

The challenge is to devise a strategy that is achievable by the rescue team and acceptable to both the creditors and other stakeholders.

Our strong relations with and understanding of those creditors likely to be involved in recovery cases is crucial. This means government departments, banks, asset based lenders, trading creditors and investors.

Business rescue can be achieved in a number of ways depending on the stage at which problems are recognised by those involved and whether or not there is a cash crisis.

The process usually involves a combination of one or more of the following:

• Stabilisation
• Financial restructuring and refinancing
• Operational turnaround  

Who is in the rescue team?

The business owners and managers are crucial; add to this existing professional advisors and the key financial stakeholders.

What part do F A Simms & Partners play?

We start with a needs assessment covering all aspects of the business. From this the symptoms and causes can be split and strategic formulation begun. Crucially the owners and managers must be party to this and have faith in and commitment to a plan they have helped construct.

When is the time for help?

The simple answer is when clients are ready for help. If the owners and managers of a business are completely resistant to change then no plan can succeed.