Coronavirus: supporting the economic and financial well-being of businesses
The global impact of coronavirus has been far-reaching. Understandably the focus has been on ensuring our physical well-being but, with measures in place to protect that, attentions have, rightly, turned to how we can support the economic and financial well-being of businesses.
Despite the unprecedented challenges, it remains critical for directors and management teams to proactively plan to mitigate the risks to their staff, business and stakeholders.
To take the right decisions, businesses should analyse the risks they face including:
- possible impact in trading income;
- availability of liquidity to meet short term obligations; and
- longer-term impact on capital structures.
How can we help?
We are experienced in supporting boards facing challenging circumstances and can assist directors in taking proper steps to ensure that they are personally protected. This includes identifying and implementing mitigation strategies to protect the business to meet the challenges of immediate liquidity issues and to protect the long-term resilience of the business.
We regularly support stakeholders in managing complex situations of financial distress and can support businesses through this process. We have a broad database of individuals experienced in turnaround and crisis management and if required we can help you augment your team to have the appropriate skills in house.
We also support businesses planning for the longer-term stability and return to success, through operational, structural and financial restructuring actions.
- Financial restructuring – refinancing or restructuring existing facilities and/or obtaining new facilities to support immediate liquidity and long-term growth.
- Structural restructuring – disposal of non-core assets may be a route to realise short term value and to achieve efficiencies in future – the current circumstances will offer opportunities for both sellers and buyers.
- Pensions liabilities – for companies with defined benefit pension schemes, managing the ongoing liabilities to the scheme will form a key element in planning for the future.
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