Our fourth video in the ‘What to do when things don’t quite go to plan’ series covers the informal options available to businesses to turn performance around and get back on track. Informal options are the options available to businesses that fall outside of formal insolvency and recovery procedures. These include having conversations with your creditors about payment terms, speaking to your lenders about additional funding or refinancing opportunities, asset-based lending options and equity.
We always recommend that you seek advice from a suitably qualified adviser before taking any action. The information in this article only serves as a guide and no responsibility for loss occasioned by any person acting or refraining from action as a result of this material can be accepted by the authors or the firm.