Commercial Issues for Directors
If you are a director of a company in financial distress you will find that you are entering a new commercial world.
Up until now you will have been approaching the problem from a perspective of improving the trading performance of the company. When a company is in financial distress that is only one of the aspects to consider. In addition, you will now have to consider many other commercial issues.
We have identified below some of the more common commercial issues that concern directors:
It is very difficult for directors to extract themselves from the issues that have been occupying them for years and change focus to the new commercial issues. It will usually require an external catalyst to cause a director to do this. In some cases that is a legal notice, a call from the bank to say the Investigating Accountant is coming or a realisation that you can’t pay next week’s wages.
Rather than wait for those external events it is preferably that the catalyst is of the directors choosing. We recommended you use Restructuring Works to help you change focus. Our role can range from simply being a sounding board for ideas to conducting a full review and assisting with implementation of a new strategy. Why not CALL US NOW for FREE ADVICE on a Corporate restructuring.
Or if you would like to read more have a look at The Restructuring Spectrum to see where your company fits and then examine the possible solutions.
