• Rescue is always the first option...

    Business Recovery

    Rescue is always the first option...

As a corporate rescue specialist, PCR has extensive experience in the area of business recovery, helping firms through the traumas of severe financial difficulties.

Being a solution driven practice, if at all feasible PCR always begin by searching for positive ways forward to effect a turnaround of the beleaguered business using the following primary tools;

Business Turnaround and Rescue

Businesses facing trading difficulties may effect a recovery by commissioning an Independent Business Review upon which a business plan can then be constructed. In many cases a review from PCR at an early stage allows relatively small pragmatic changes to be made that allow an otherwise healthy business to continue to trade and prosper.

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Administration is a true corporate rescue process aimed at saving the company itself. But if a company cannot be saved, Administration may also be used to produce a better outcome for the creditors than Liquidation.

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Company Voluntary Arrangement (CVA)

A CVA is a deal offered to creditors where they are asked to accept a proportion of their debt in final satisfaction. A CVA  can be proposed without the company first going into Administration (known as a “stand-alone” CVA), although this is relatively unusual. Administration is often used to provide time and protection from creditor action whilst a CVA proposal is put together.

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Creditors Voluntary Liquidation (CVL)

Voluntary Liquidation is the legal process used when a company’s directors themselves decide to wind-up a company’s affairs. Unlike Compulsory Liquidation, neither the Courts nor the Official Receiver are generally involved in placing a company into Voluntary Liquidation.

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