Business Turnaround Specialists

Business turnaround and advisory services

If your business is experiencing financial difficulties, obtaining advice from a licensed Insolvency Practitioner at the earliest stage is essential if you wish to give your business the best chance of being turned around.

What is business turnaround?

Business turnaround is the process of avoiding failure or stabilising a struggling business and making changes that lead to sustained improvements and regrowth.

Recognising the signs early and facing these head on is the first step to recovery. Early warning signs could be any of the following:

  • Shortage of cash
  • Lending facilities at maximum limits
  • Overdue supplier accounts
  • Overdue payments to HM Revenue & Customs
  • Overdue rent
  • Creditor pressure
  • Declining revenue streams
  • Bad debts
  • Loss of a major customer
  • Management accounts showing a loss
  • Overdue statutory accounts and/or tax returns

What is a turnaround strategy in business?

In a turnaround strategy, directors’ duties shift from all stakeholders to creditors. Directors need to be aware of company and insolvency legislation and how these laws impact on both the company and them personally. Obtaining expert advice from a licensed Insolvency Practitioner is therefore strongly recommended.

The main aim of business turnaround is to quickly remove the risk of the company going into a formal insolvency process and restore the company to normal business.

Why use us as your business turnaround specialists?

Approved Recovery will consider all options available and help you determine the best way forward. Our team has been assisting small companies for a combined 49 years, so we are confident that we have the expertise you need.

We will support management allowing them to focus on the day-to-day running of the business and help manage any problematic stakeholder and creditor relationships. We also have long standing relationships with other experts such as solicitors and agents, so we’ve got you covered.

Request a free consultation

Contact us for a free no obligation consultation on 0800 066 2248 or email hello@approved-recovery.co.uk

Request a free consultation

Simply complete our contact form and our insolvency specialist will call you back to offer no-obligation advice.

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