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Businesses across the Channel Islands are facing huge upheaval and change, both from the impact of the COVID-19 emergency in the short-term and from longer-term shifts in customer expectations and business models.
As a leader in business recovery services, our approach is built around a proactive rather than simply reactive approach. We don’t just want to help companies survive, but thrive.
The earlier the action, the greater the chances of saving the company and restoring its viability. Moreover, we don’t just support troubled companies, but also advise viable businesses to help them gain a better understanding of the potential threats they face and the opportunities opening up. We can then help them address these developments by simplifying their corporate structures, streamlining their operations and strengthening their finances, capital management and cash position.
We offer advisory services to lenders, creditors, companies and individuals in troubled financial situations to help identify problems, secure cooperation, develop solutions and implement them in the most straightforward and effective way.
Our Channel Islands' team works closely with our colleagues in PwC UK’s Business Recovery Services (BRS) team. With nearly a thousand staff in 24 offices, PwC BRS is the UK's largest practice, We also work with colleagues across the entire breadth and depth of the firm, from tax and assurance to strategic and operational advisory, ensuring we can provide you with the specialist knowledge you need to make the right decisions. Our global network allows us to rapidly develop and execute cross-border services and solutions whatever your need and wherever you operate.
Are you facing financial distress or insolvency?
Your business may be running out of cash, finding it difficult to pay suppliers or in danger of breaching banking covenants. In turn, you may be a creditor with a debtor in default and need to consider your recovery options.
If action is taken early enough, it may be possible to rescue the business. Proactive action is also the most effective way to preserve and release funds in the event of a default.
We have dedicated teams who can examine the factors affecting a company’s performance and advise on measures that can restore performance and value.
However, if it’s not possible to restructure the company and it remains insolvent, the only way for creditors and investors to try to recover assets and realise a return is through the use of a statutory insolvency procedure.
We employ a team of experienced specialists to deal with all kinds of business, from owner-managed enterprise to large multinationals. We also work with creditors to develop the most viable options for recovery, from negotiated settlement through to a winding-up order where necessary.
Does your business need to reduce operating costs and achieve a simplified and more transparent corporate structure?
We can help you to identify opportunities, rationalise operations and dissolve inactive companies that have fulfilled their economic purpose.
Our dedicated team of specialists can provide initial advice on the different methods of dissolution, the associated risks to the directors and the group, how best to plan for this type of project, and how to avoid the common pitfalls.
Some clients prefer to limit our initial involvement to a preliminary review of the target companies to help management select the most appropriate method of dissolution. The review also identifies issues that need to be addressed prior to dissolution, and determines the specific allocation of responsibilities for resolving these. We tailor our involvement to match your specific needs and resources.
Our support includes voluntary winding-up procedures. We help to minimise the demands on management time through an orderly winding-up, whilst maximising shareholder return.
Further support includes helping businesses to develop more viable and efficient operating and governance structures.
Specialist capabilities developed for the particular needs of the Channel Islands' market include dissolving fixed life vehicles. In a typical assignment, a fund manager might want to offer the members the option to roll up their capital into another vehicle, whilst also offering a return of capital to other members. We would deliver this.
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