Corporate Recovery
Why do so many companies fail in the UK construction sector?
Inadequate sales, reduced margins, poor cash management and contractual disputes are all typical symptoms of a failing business operating in the construction sector.
But do these symptoms mean that a corporate disaster is inevitable? And if your business is suffering from any of these complaints what, if anything, can be done about it?
It is a fact that people rarely want to talk about business problems. It is simply not in our nature. However, it is the failure to recognise problems and take appropriate advice at an appropriate time that is the single biggest cause of company failure in the UK.
So why should you consult with The Vinden Partnership and what corporate recovery services can we offer our clients?
Since its inception in 1994 The Vinden Partnership has advised clients on over 300 corporate restructures, acquisitions and recoveries. This advice is provided by experienced professionals who themselves have worked in surveying, legal, management and insurance professions allied to the UK construction sector.
The following is just a sample of the range of services available to companies, funders and insolvency practitioners.
- Contract Valuation – detailed valuation of work in progress and debtor balances in contracting businesses.
- Cash Flow Forecasting – preparation and validation of cash flow forecasts for funders, purchasers and the existing management team.
- Management Reviews – analysis and commentary on existing management procedures, together with recommendations for improving existing and introducing new control systems and procedures.
- Novation and Assignment – valuation of part completed contracts for onward sale to interested parties including the negotiation and settlement of appropriate commercial terms.
- Contract Realisation – preparation of interim and final accounts for completed projects and maximising the early collection of monies thereafter in negotiations or appropriate legal proceedings.
- Company Health Checks – Detailed analysis of existing management systems, operating budgets and accounting information.
- Acquisitions and Mergers – Detailed analysis of contracts, risk profiles and related contractual issues. Negotiating on behalf of sellers and buyers to achieve the best commercial terms.
- Corporate Recovery and Restructures – advising directors, funders and insolvency practitioners on all issues related to corporate recovery and restructuring programmes.
If a business rescue or corporate recovery is not possible we can advise you on the appointment of an insolvency practitioner to comply with your obligations under relevant insolvency legislation. We can recover outstanding debtor and work in progress values, advise on the sale and novation of relevant contracts, arrange for the completion of contracts and assist in negotiating the sale of the business to interested parties.
- I am an insolvency practitioner recently appointed to a financially distressed construction company, how could TVP help me?
- TVP has been providing advice and assistance to IP’s for many years. TVP can provide rapid assessments of the distressed company’s true financial position. We can then advise on the best way to proceed. If necessary we can provide interim management, assist with the sale/novation of contracts and we can also advise on the likely collectability of debts if the company ceases to trade, and assist with the recovery of same.
For immediate assistance with all construction related matters, call The Vinden Partnership now on 0845 504 9733.