An innovative company that endeavours to
Make business saving changes in financially restrained and distressed SME’s
Business Rescue
Business Rescue is a process entered into by a company or close corporation that is in financial distress
Informal Turnaround Management
An informal turnaround is an effective out-of-court settlement between your company and its creditors, with the aim of reducing indebtedness
Consultation
Advice regarding Business Rescue or Liquidation proceedings
What is financial distress?
Financial distress is defined in the Companies Act as follows:
It appears reasonably unlikely that the company will be able to pay all of its debts as they become due and payable within the immediately ensuing six months
Or
It appears reasonably likely that the company will become insolvent within the immediately ensuing six months.
What are some of the signs that your company may be in financial distress?
•The entity is experiencing cashflow shortages.
•The entity is unable to pay creditors or has had to negotiate terms.
•The industry where the entity operates has been impacted.
•The product or service that the company offers no longer has as much demand.
•Staff reductions and retrenchments had to or need to be introduced.
•Overdraft facility is running at capacity and the company cannot seem to reduce the facility.
•Management and ownership disputes resulting in financial losses.
Not sure what program to apply for?
Programme Assessment Quiz