Recovery plan
Breathe new life into your business!
Every company will face challenges at some stage. The economic context, changes in market conditions and poor management are some of the reasons that can lead to instability. However, when you entrust our professionals to support you, you’ll have every chance of saving your business and restoring profitability.
When should you consider a recovery plan?
A recovery plan may be considered in the following situations:
- Your business is having difficulty paying suppliers and employees or paying off debts.
- Its profit margins are decreasing or are non-existent.
- It is facing stiff competition or determining changes in market conditions.
- There are internal management issues such as cashflow and human resources management challenges.
- It has strong potential, but the business model must be adjusted.
- Creditors have threatened to initiate proceedings or seize assets.
What is the process for a recovery plan?
There are five primary stages in preparing a financial and operational recovery plan:
- Analysis and diagnosis : We conduct a thorough analysis of your company’s financial situation. What are its strengths and weaknesses? Who are its clients and competitors? What are the challenges and business opportunities? What are its cashflow requirements?
- Preparing a recovery plan : We then determine a strategy tailored to your situation which includes several recovery measures.
- Implementing solution : We help you implement the recovery plan.
- Monitoring and adjusting : Together, we’ll regularly take stock of the situation and adjust the plan as required.
- Return to financial stability : We’ll support you until your business is back on track. Then you can breathe a sigh of relief!
What are the advantages of a recovery plan?
A recovery plan has the following advantages:
- You’ll have a clear understanding of your financial situation and challenges.
- You can reassure your creditors regarding your financial outlook.
- Your company can remain operational while overcoming its difficulties.
- You can avoid commercial bankruptcy and protect your employees.
How can a Licensed Insolvency Trustee help you with a recovery plan?
The role of a Licensed Insolvency Trustee involves supporting you while your company gets back on track and ensuring its sustainability. An LIT can help you create a financial recovery plan and negotiate with your creditors. Their in-depth knowledge of the process makes them your greatest ally for getting your business back on course.
Other solutions that can help
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Voluntary liquidation
Business dissolution is a complex process that involves following specific rules. We can develop tailored strategies to maximize the value of your company’s assets while respecting your obligations towards your creditors!
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Proposal to creditors
Our experts negotiate an agreement with your creditors on your behalf. As a result, your payments will be reduced and your debts spread out over a longer period. The objective is to give your business a second chance!
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Commercial bankruptcy
When no other solution is possible, commercial bankruptcy can release you from your obligations towards your company. We work together to analyze how bankruptcy could impact your personal finances. We also come up with solutions to protect you from your creditors. We take care of everything so you can regain peace of mind.