Croydon Council plunges into Insolvency crisis
November 12, 2020
An Independent Business Review (IBR) is often needed when a company is showing signs of distress. Usually a secured lender or funder that will instigate this however Management may also do so looking to assess the financial health or operational capabilities of their company.
At a time when a business is facing financial distress, the only way to protect the stakeholders’ investment and minimise the risk of exposure, is to react with speed in response to the changes encountered in the company’s performance and marketplace.
Whilst an obvious statement, this is extremely difficult if the business is suffering from poor financial control, lack of accurate management information, poor relationships and an overall loss of confidence is demonstrated in the organisation’s management. Yet, all of these are common factors when a company is facing financial challenges.
Also known as a Viability Report, the review independently assesses the financial position of the business. The report delivers the financial, operational and strategic information to enable the stakeholders to identify the underlying problems, the key risks and financial factors to implement a strategy and recovery plan.
For more information on Independent Business Reviews, we offer an initial free consultation to review the situation and make recommendations on the best way forward. If we think that an Independent Business Review is the best route forward, our specialists can support the business at every step of the way through the process.
Contact our Head Office on +44 (0) 20 3326 6454 to arrange a no obligation and confidential call with one of our Partners.
“Our firm has worked with Opus for many years and with one of the partners in particular, Jo Rolls. I have attended a number of meetings with Jo when our clients have needed guidance on restructuring their business at a time when they have been facing financial challenges. Jo has always demonstrated a clear understanding of the clients’ needs from the outset. Her attention to details and diligent advice have proved invaluable to the business at a time when the directors needed it most. I would have no hesitation in recommending Opus to anyone wishing to use their services”