Just because your business is struggling to pay its debts and meet other financial obligations, doesn’t necessarily mean that insolvency via administration or liquidation are your only options.
In some cases, business recovery & restructuring may be able to help you get your business back on track.
If you find yourself answering yes to any of the questions below, you should seek professional advice as soon as possible and consider business recovery and restructuring:
- 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?
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
Do you want to speak to a professional regarding business recovery and restructuring?
Call the team at The Quinn Group today to see how we can help you and your business. Contact us online or call 02 9223 9166.