Accounting Services - Business Recovery and Restructuring

It is a common misconception that for businesses unable to pay their debts and meet other financial obligation, insolvency via administration, liquidation or receivership is the only option.

If you answer yes to any of the following questions, business restructuring may be able to help you get your business back on track.

• Are you having trouble paying your tax bills?
• Is there not enough cash to meet your payment obligations?
• Does your business have poor profitability?
• Do you have any outstanding debts to the ATO?
• Do you have any outstanding payroll tax debts?
• Do you have any outstanding workers compensation payments?
• Are you encountering problems with your suppliers?
• Are you having problems with your sub-contractors?
• Do you have trouble collecting money owed from your customers?

The restructuring process is generally considered to be "informal" as it is not strictly governed by legislation. The main purpose of restructuring a business is to preserve the assets of the business, but it is also a preferable outcome that the business as a whole remains a going concern. One of the main benefits of a restructuring or rescue program is that it is private. Formal administration and receivership procedures are generally widely publicised, which can often result in a more difficult negotiation process with creditors and customers of the business and can also alert the competition to a major opportunity in the market place.

At The Quinn Group we are able to facilitate this process with a range of services including:

• Negotiating with lenders to reschedule debt repayment arrangements - this will give the business some much needed breathing space,
• Organising additional facilities, such as a line of credit, overdraft or consolidating debts over a longer term to smooth out cash flow spikes
• Providing advice regarding the reorganisation of your operation, in particular, how to cut costs, and/or reallocate resources
• Focusing on generating cash flow by working with debtors to bring in monies that are owed and reducing any unnecessary expenses
• Negotiating with major customers to increase prices, shorten payment terms and even increase orders,
• Organising for an injection of capital by bringing in fresh equity

We welcome referral opportunities from firms whose clients require specialised help or advice. The Quinn Group understands that your clients may come to you looking for Business Recovery and Restructuring advice in light of financial difficulty, and that you may be able to not provide the specialist advice they seek. If you or any of your clients are seeking advice or assistance on any of the above matters, please do not hesitate to contact us.

The team of lawyers and accountants at The Quinn Group are available to assist you with getting your business back on track. Contact us now by submitting an online enquiry form or call 1300 QUINNS or on +61 2 9223 9166.

The Quinn Group - Providing the Total Solution

As both a legal and accounting firm The Quinn Group are able to offer business legal and accounting services in one location. Visit our Business Legal Services page to see our range of legal services available to your business.

Visit our Personal Accounting Services page for more information on the wide range of Accounting Services that The Quinn Group can provide to you as an individual.

View all our office locations to find The Quinn Group office nearest you, or call us on

1300 QUINNS (1300 784 667) or on +61 2 9223 9166 to arrange an appointment.

Whilst we have 5 offices located in Sydney, we are also able to meet you at location convenient for you. Additionally, we have web and teleconferencing available for regional, interstate or international clients