In our latest article, Paul Zalkin looks at two potential remedies for businesses that may be struggling with contractual obligations.
Times are tough. There is no doubt about that. As we all start to feel the impact of coronavirus (COVID-19), there will be a lot of uncertainty and questions asked about how businesses will be impacted as well as what they can do to proactively manage issues and risks
Essential business checklist
To help businesses of all shapes and sizes we’ve created a checklist to highlight some of the guidance we are giving to the many businesses we are advising.
How we are helping
As professionals that advise businesses in distressed situations and those looking to take advantage of opportunities, we will be sharing insight and guidance on a regular basis and as the situation evolves. We will do this in a practical way by structuring our guidance based on the different scenarios we are being asked to develop solutions for by the businesses we are advising. Initially that will include:
We will look at the characteristics of each of these types of businesses; summarising the key concerns for directors and - most importantly - how some of these concerns can be addressed by either the business, their professional advisers or firms like us who specialise in special situations.
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Businesses of all sizes have seen their turnover shrink dramatically with a resulting pressure on profits and cash.