28 January 2021

Restructuring for the future

This is a time of challenge and change. Businesses are having to operate in an increasingly complex environment, bringing new and ever evolving challenges requiring different and quicker responses.

All businesses, no matter their life stage, but in particular those which are both starting up and evolving, can face times of real financial difficulty that will put at risk all the time and capital invested in that business.

Our colleagues at BM Advisory, a BM Connect partner business, part of the Beavis Morgan group, are committed to helping businesses through what can be a very difficult time. If a business is experiencing financial difficulties, they will always first assess whether a rescue plan can be implemented. And, while the initial focus will be on saving the business, timing is crucial. It is therefore important to recognise and act on the warning signs of business failure by seeking help at the earliest possible opportunity. This will enable the team to evaluate the financial affairs of the business and find the right recovery option(s).

BM Advisory works with companies and their stakeholders to improve operational and financial performance:

  • Conduct an independent business review
  • Assess options and address balance sheet stress
  • Cashflow management – create liquidity headroom and reduce costs
  • Sourcing funding solutions, refinancing and debt restructuring
  • Lender and landlord negotiation
  • Improving profitability
  • Turnaround or exits of underperforming businesses

Where there is no other option, BM Advisory is also available to assist with formal insolvency processes.

Whether a business is looking to redress underperformance, enhance stakeholder value or resolve a crisis, our BM Advisory team has a proactive, innovative and entrepreneurial approach to problem solving.

They are transparent about their fees. The initial consultation with a BM Advisory team member will be free of charge and without obligation. They will always agree the process and our approach upfront and explain the costs involved.

For more information, please contact Mariske Byrnes or your usual BM Connect adviser who will arrange a no-obligation consultancy call with a member of our BM Advisory team.

Case Study: Accelerated marketing campaign leads to rescue of InsurTech business  

BM Advisory was approached to advise the Board of a start-up InsurTech company on its strategic options given the financial pressures it had encountered. The company had previously secured venture capital funding of c£1m but had begun to experience cashflow difficulties.   The options discussed with the Board included a refinancing of the Company securing additional investment within the existing corporate structure, a share sale of the company, and a business and assets sale via a pre-pack Administration.  We achieved a share sale of the company, securing an additional £1m of investment for future growth. The purchaser we identified also has complementary services and reach to add significant post sale value.   We worked closely with the Board and planned a targeted marketing campaign to work within a time table restricted by the cash burn of the business. A data room containing financial and operational information was created, and key milestones were agreed. In the short period available, we secured thirteen expressions of interest from parties in the UK, US and Europe, all of whom were given access to the data room. A closing date was set and three offers to acquire the company were received. We then worked alongside the Board to assess the merits of each offer and advise on the preferred option.   This case study demonstrates the broad range of assistance that BM Advisory can offer and shows that the earlier a business seeks help the more options are available. Had this client waited any longer before seeking professional assistance, it is highly unlikely that value would have been preserved to the extent it was.   Seeking professional advice at the earliest possible opportunity to explore the options available.  

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