The impact of the coronavirus pandemic has resulted in many businesses doing whatever is necessary to survive, including taking on more debt. As businesses have re-opened, some are coming to the difficult conclusion that they aren’t as profitable as they once were, and thus repaying any debt incurred may not be possible.
What can you do if your business finds itself in this situation?
The circumstances under which that debt was incurred were truly unprecedented and widespread; you were not alone in making some tough decisions. Fortunately, there are solutions available to you that will allow you to remain in control while driving your business forward in what is becoming the ‘new normal’.
Financial restructuring is a consensual process that realigns the debt, liabilities and/or capital structures currently in place with your current and revised forecast performance. The purpose of financial restructuring is to ensure that this revised structure incentivizes, supports and is appropriate for your current circumstances.
This five-part Financial Restructuring Series provides an overview of key steps to assist in a financial restructuring.
