Corporate recovery

At McCranors our approach to corporate recovery is summed up in the phrase: prevention is better than cure.

The key to preventing business failure is to have the right controls in place in order to help identify areas of poor performance, or early signs of distress in a business, and to take appropriate remedial action if and when such signs appear.

Even where a business is in a relatively advanced state of distress, we still regard insolvency procedures as a last resort and prefer to explore all possibilities of restructuring the business and setting it on a path to full recovery. Often this will involve refocusing on core business activities, introducing stringent cost controls, setting clear profitability goals and introducing tighter cash management.

This approach, we believe, is in the best interests of all the stakeholders - shareholders, directors, managers, employees, customers, and suppliers.

If all else fails, and the business has to go into administration, receivership, or some other insolvency procedure, we can get you the best advice on the appropriate course of action.

For a free consultation with a McCranors director, with absolutely no obligation, call us now on: 02476 258 621.

McCranors:  Accountants You can talk to.