Service(s): Restructuring Services
A construction group in South East England was experiencing difficult trading conditions, leading to liquidity issues and a breakdown in relations with the bank. The owner was post retirement and needed a trusted adviser to guide him. He engaged FRP Advisory’s Restructuring Team to provide a bridge between himself and the bank, to help improve relationships.
Following a thorough review of the business, the FRP Advisory team created a business plan for each of the operating units, with a clear strategy and schedule of actions. They negotiated additional working capital with the bank and supported the implementation thereof.
This process, together with improvements in cash management, tracking of the order book, management reporting and corporate governance, each implemented by FRP Advisory Restructuring Team, has turned the businesses around and put it back on a secure footing for the future.
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