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Financial distress is best understood not as being a singular state but, rather, a wide spectrum: from inability to pay statutory liabilities (BAS payments) on time to inability to pay wages – and everything in between. Where a business sits on the spectrum impacts its ability to restructure its affairs. Generally speaking, earlier intervention offers a broader suite of options.
Business restructuring and turnaround initiatives available are unique to the circumstances of each business, but can generally be classified under three distinct streams:
Assuming responsibility for formulating and executing a business restructure or turnaround strategy can be challenging for management, particularly if resources are already stretched dealing with the day-to-day operations and obligations of the business.
Grant Thornton’s restructuring and turnaround team works closely with key stakeholders – including owners, managers and lenders – to quickly identify and resolve issues affecting profitability, protect enterprise value and recover value. We’ve successfully managed restructuring and turnaround projects across a variety of industries in time-critical situations and have a strong track record of helping mid-sized businesses and organisations build sustainable platforms for growth.
At an early stage, we develop a re-organisation plan to drive successful outcomes for our clients, including a financial, operational and strategic analysis and a management team assessment. Our goal is to get businesses and organisations back on track and put them on the course to future growth.
We also provide lender support services to major banks, private equity specialist financiers and international financial institutions.
Does your company need a health check? Grant Thornton’s expert team can help you get to the heart of your issues to drive sustainable growth.
Our Safe Harbour advisory helps directors address requirements for Safe Harbour protection and business turnaround.
We provide strategic director advisory services in times of business distress to help directors navigate issues and protect their company and themselves from liability.
We help clients improve commercial performance, profitability and address challenges after internal or external triggers require a major business model shift.
We provide corporate simplification and managed wind-down advice to help streamline and further improve your business.
We work closely with clients and lenders to provide holistic debt advisory services so you can raise or manage existing debt to meet your strategic goals.
Does your company need a health check? Grant Thornton’s expert team can help you get to the heart of your issues to drive sustainable growth.
We help clients improve commercial performance, profitability and address challenges after internal or external triggers require a major business model shift.
Our Safe Harbour advisory helps directors address requirements for Safe Harbour protection and business turnaround.
We provide corporate simplification and managed wind-down advice to help streamline and further improve your business.
We provide strategic director advisory services in times of business distress to help directors navigate issues and protect their company and themselves from liability.
We work closely with clients and lenders to provide holistic debt advisory services so you can raise or manage existing debt to meet your strategic goals.
National Head of Partner Growth and Firm M&A, and National Head of Restructuring Advisory
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In the meantime, if you have any questions, please don't hesitate to contact us via communications@au.gt.com.
Australia transport insolvencies rise as freight margins compress amid cost pressures.
It is important for business owners facing financial distress to understand all the options available to them. Small Business Restructuring (SBR) offers a pathway for small and medium sized Australian companies experiencing financial pressure to deal with unmanageable debt, reset operations, and continue trading through and beyond difficult times. SBRs are also a cost-effective solution to save a business compared to a liquidation shut down.
The Full Federal Court has handed down its decision in AusNet Services Limited v Commissioner of Taxation. AusNet argued that its 2015 restructure did not qualify for rollover relief under Division 615, despite that it earlier said it did. This case serves as a reminder that once a tax election is made, it is very difficult to unwind. Careful planning and forecasting are critical.
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