From time to time businesses (be they companies, groups of companies or sole traders) will review their finances and structures (including management structure) and decide that it is appropriate to make some changes. Very often these changes will be necessitated by new investment, by lenders or shareholders, or if the entrepreneur who started the business is looking to exit. There may also be a tax reason to restructure, especially in a group context. Business and corporate restructuring could also be appropriate if it is time to refinance the business' debt.
Sometimes businesses change their financing or ownership structure because of external pressures, or simply because they have become very successful and have outgrown their current structure. The primary example would be an individual who started a cottage industry in her garage or spare room but, having become successful needs to think about incorporating that business into a limited company and moving to formal business premises.
Our corporate commercial and real estate solicitors are well experienced in matters of finance, refinancing, incorporation of limited companies and limited liability partnerships, business transfers and dealing with shares in companies. We have the strength and depth to create the right team to manage all aspects of your proposed business restructuring and make sure that everything goes smoothly and on time. For more information and to discuss your strategy ideas why not pick up the phone or meet us for a coffee with no obligation.
Often we encounter businesses that need to restructure or rearrange their business practices or their finances because an issue has been identified that threaten the business. In these circumstances we are not dealing with an immediate threat of insolvency but are advising our clients on how best to turn the fortunes of that business around to avoid the worst case scenario. Turnaround is sometimes referred to as business rescue and this may be appropriate if the potential outcome of doing nothing is the failure of the business.
At Bray & Bray we can assemble a team of professional advisors who will assist you in analysing the business' current finances, cash flow, strengths, weaknesses, opportunities and threats to put together a strategy for turning the business around. We have access to individuals who can join a business on a part time consultancy basis to become embedded with the management team and assist the management team in executing a business rescue plan. Turnaround management really is a team effort and we are best placed to advise you on assembling and managing that team.
If you would like to explore your options in relation to business restructuring or turnaround, or if you have concerns about a business with which you have dealings either as a customer or supplier or lender then please get in touch.
Bray and Bray has three main offices in Leicestershire, contact us to discuss an enquiry or a case you have or feel free to pop in and see us at your local office by clicking on the links below:
Leicester call us on 0116 254 8871.
Hinckley call us on 01455 639 900.
Market Harborough call us on 01858 467 181.
Bray & Bray's experts don't just dip in and out of different areas of law – all our lawyers specialise in certain areas and have the knowledge and confidence to take on any kind of case in their area of law. Contact us and we'll work alongside you from start to finish.
We know that when our clients are dealing with a stressful legal situation the last thing they need is to be confused by jargon, or made uncomfortable by stuffy professionals. Our plain speaking transparent approach puts people at ease and we're really proud of it.
We offer a complete range of legal services, from personal injury to family law, criminal defence and immigration. We have expert teams of lawyers working in all legal areas, and you'll never work with anyone who isn't fully versed in the relevant laws.
We're based in Leicester and the county but we serve clients nationwide, so don't hesitate to get in touch if you're based some distance away. We do everything we can to make things simple for clients based elsewhere – we'll keep in touch via phone and email, and we'll come and visit you should we need to.