At Meertens we are focused on developing strategies to help businesses find improvements and progressive solutions when financial complications arise. Our advice to business owners facing financial uncertainty is to; consult with us as soon as possible; produce accurate accounting reports for the business; seek legal advice; and identify opportunities to refinance, restructure or refocus the company’s activities, paving the way for long-term viability.

Reconstruction may involve any of the following steps: a partial downsizing of business operations; reducing a workforce; effecting asset sales; a change of ownership; or the introduction of fresh working capital.  Reconstructing a corporation may be achieved either through the appointment of a voluntary administrator or a restructuring practitioner under the safe harbour provisions.

Informal reconstruction efforts might involve taking guidance on how best to: approach select creditors with a payment arrangement; develop a suite of management reports to monitor a business’s short term funding requirements; identify underperforming processes or cost centres within a business; mitigate continuing operating losses; and strategise future working capital management.