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"Finance7 provided an invaluable service at a very difficult time. They presented the options in a clear and thorough manner and ensured the best outcome possible. I can highly recommend them"

Director of Merricks Media Ltd

The rescue stage in turnaround refers to the initial intervention in a company's affairs that helps prevent the continued financial deterioration currently being experienced, thus allowing for short term financial stability. Rescue is probably the most important phase in a company turnaround, identifying the company’s main problems early on would be key to any form of turnaround that the company is likely to make. The initial short term stability can be acquired through a number of different ways:

• Simply speaking to creditors thereby allowing them to gain a better understanding of the situation. This may result in them allowing you more time as you would be seen to be making a constructive attempt to pay the debts by instructing a company such as ourselves.
• Renegotiating contractual agreements - with more aggressive creditors it may be the case that the agreements need to be renegotiated allowing more time to pay, we can represent you and help in these negotiations where necessary.
• In more extreme debt cases, formal insolvency proceedings should be considered as a way of saving the underlying business. Please see our pre-pack insolvency and CVA sections.

By speaking with your stakeholders, we can help reduce their anxieties regarding your business, which in turn will open up a vital window of time in which we can help you to formulate the best recovery plan possible for your circumstances. With your assistance, we can analyse the financial status of the company looking at the whole picture from a number of different perspectives.

Once an extensive analysis has been conducted, we can begin to help cut your losses in order to ultimately ‘rescue’ the company and begin looking at the long term future which comes in the restructuring phase.