Springfields offer a full spectrum of rescue and turnaround assignments on behalf of companies, partnerships and individuals who find the viability of their business in question.
Confronting financial difficulties in any business, and particularly in owner-managed and SME businesses, involves significant management strength and self-awareness. The temptation to neglect or deny the problem is often high and, if panic sets in, commercial judgement can desert even the most experienced of business professional.
Not all situations are solved through liquidation or even the need for formal insolvency protection. By identifying trouble and moving quickly to seek assistance, a company or business willing to make changes in the way it operates and enter into formal agreements with its creditors can often avert a crisis and, in many instances, return a company or business to profitability.
Springfields is based in Leicester and welcomes the opportunity to have exploratory discussions, free of charge, with any owner, director or entrepreneur concerned that their business might be running into financial difficulty. We work with sensitivity and professionalism to establish a tailored solution, appreciating that every business is unique. We can deliver a practical solution and advice needed to guide a company through difficult financial times.
We use a hierarchical approach to business recovery. We will first of all look to informal procedures to achieve our goal. This will involve working with you in the stabilisation and on going management of your business, reaching agreements with creditors on scheduling repayments, and helping you to restructure processes with the objective of rescuing the business. In these situations, we are able to provide assistance in raising finance, restructuring management teams, divesting the business of underperforming units and various other strategies necessary for an effective rescue.
Sometimes it is necessary to use formal insolvency procedure to rescue a business. See the links below: