Traditionally business difficulties can evolve over time or could result from a tragic incident such as failure of a major customer, supplier or deterioration in human resource management. In the current climate, businesses are experiencing sudden drops in activity levels which contribute to cash flow shortages and an inability to meet banking or supplier obligations.

Under capitalisation and a lack of relevant and accurate financial information can lead to overtrading and an inability to manage the business in the absence of appropriate measurement data. Problems with margins, overhead cost containment, working capital investment and the management of profitable business to the exclusion of that which is unprofitable can individually or on a combined basis strangle any company.

However, with timely intervention by personnel with the appropriate business acumen and experience, turnaround solutions can be created. O’Donovan Lavin has a track record of working in partnership with business owners and the various business stakeholders including suppliers, customers, bankers and taxation authorities to create routes to business survival. The specialist advisory services group that undertakes recovery work draws skills from disciplines including insolvency expertise, corporate finance, strategic planning, financial modelling, and business owner mentoring. While each turnaround situation is unique these skill-sets can be fused to provide the following services to create a viable recovery plan.