Business Recovery and Turnaround
At BRI Ferrier, we understand the many pressures that can push businesses over the edge. If engaged early enough, we also know how to turn the situation around.
HOW WE CAN HELP
Our business recovery and turnaround management services emphasise business renewal and positive change.
We work with organisations of all sizes – from sole traders and private companies to ASX-listed corporations and government entities – to help them take stock, reassess, plan and rebuild.
We liaise with boards of directors, financiers, accountants, lawyers, regulators, shareholders, financial advisors, private equity firms and hedge funds to help our clients through financial difficulties. Depending on the specific circumstances, we can achieve this through a formal voluntary administration appointment or through informal turnaround management services.
Our aim is to recover a business’s viability and reduce the severity of the financial fallout.
Depending on the specific circumstances, we can achieve this through a formal voluntary administration appointment or through informal turnaround management services.
BRI Ferrier also specialises in business insolvency, personal insolvency and forensic accounting, providing expert solutions for financial challenges.
BRI Ferrier is a leading provider of recovery services to insolvent or financially distressed businesses using the voluntary administration process.
Voluntary administration offers breathing space for organisations, so they can reorganise their financial affairs and potentially save their business. When appointed as voluntary administrator, we work closely with boards of directors, financiers, employees, unions, creditors, suppliers and other stakeholders to identify exposures, mitigate risks, strengthen core operations and maximise returns to creditors.
We carry on a company’s business where it is viable, assessing its profitability, developing strategies for future viability, investigating and reporting on all possible recoveries, and recommending the best options to creditors for maximum returns.
Where a company can be restructured, a deed of company arrangement (DOCA) is typically used to formally compromise the debts owed and return the company to a solvent position. A DOCA is a flexible arrangement that can be tailored to suit the needs of the company being restructured, with the aim of continuing the business as a ‘going concern’ and, ideally, to turn around its financial situation.
We can also incorporate a creditors’ trust into a DOCA and accelerate a company’s exit from administration. A creditors’ trust is an independent arrangement where the creditors receive rights as beneficiaries of the trust in place of their claims against the company. This mechanism can be used to immediately return the company to solvency and assist ongoing trading after voluntary administration.
BRI Ferrier has extensive experience in achieving successful recovery outcomes through voluntary administration and DOCA across many industries.
Past Experience:
King of Knives
The King of Knives Group – which sold knives and cookware in around 60 stores (including 14 franchisee operations) across Australia and New Zealand – struggled due to the tough retail climate. The group was burdened with unprofitable stores and cash flow pressure due to excessive rent and payroll costs. Ultimately, the financier withdrew its support, prompting an urgent need to restructure the business’s finances and operations. The group appointed BRI Ferrier as voluntary administrator and we rationalised the business to excise underperforming elements and leave a viable core operation. Through a concurrent DOCA incorporating a creditors’ trust, the business was returned to the directors as a solvent viable operation.
National Buildplan Group
Redmond Drilling
Redmond Drilling, a mining contractor in Kalgoorlie, appointed BRI Ferrier as voluntary administrator. With creditors owed $1.7 million, a DOCA was administered. A successful turnaround strategy then ensured creditors received 100 cents in the dollar and the return of the company to the director to resume profitable trading.
FEA Group
Regional South Australian Airline
BRI Ferrier provides businesses with complete independent reviews of their operations to ensure their future viability.
We carry out comprehensive health checks to determine a business’s market position, critical issues and opportunities for continuity and growth. We also provide specific reviews for business owners, financiers and other stakeholders to assist their strategic decision-making.
Our business review and advisory services cover:
- strategic planning and advisory
- financial analysis
- crisis stabilisation and business restructuring
- cash flow strategies
- business mergers and acquisitions
- performance improvement
- risk management
- viability reviews
- refinancing options and strategies
- assets divestment strategies.
Past Experience:
Wholesaling and transport SME
BRI Ferrier advised a small-to-medium-sized enterprise (SME) in the wholesaling and transport industry in western Queensland and the Northern Territory. We advised on pricing, market forecasts and expectations. We also restructured the company's operations. This had a positive long-term financial impact on the business.
Perth hi-fi store group
Riga Commercial Bank
Family office – offshore pre-IPO private placement
BRI Ferrier provides assurance to individuals and companies that are buying or selling businesses, so they can assess the potential benefits of the deal against the risks.
Our due diligence process analyses and validates all financial, commercial, operational and strategic assumptions about the proposed transaction.
We advise individuals, business owners and financiers to identify transaction risks and opportunities. This enables them to make informed decisions.
For purchasers, we review a target business’s financial statements/projections, asset quality, product lines, customer base, management and operations. We assist vendors to divest all or part of their business by preparing an in-depth report on its financial health to address potential buyers’ concerns.
For our clients and their advisors, we also establish and maintain a virtual ‘data room’ of original documents, contracts and other information pertinent to the transaction.
BRI Ferrier can facilitate informal arrangements for financially distressed businesses as an alternative to administration or liquidation.
Informal arrangements might include:
- negotiation of standstill agreements with financiers
- repayment agreement or limited moratorium between a distressed business and its creditors
- stabilisation of business and identification of risk factors
- assessment of management
- compliance reviews
- cash flow and working capital reviews
- funding and other financial reviews
- divestment of certain business operations or assets
- implementing restructuring
- developing an operational and financial restructure plan.
As informal arrangements usually don’t require third-party involvement, they can be a cost-effective option. They may, however, offer only a short-term solution.
Here is just one example of our experience in facilitating an informal arrangement:
Past Experience:
Forest Resort
Our People
BRI Ferrier’s experienced professionals in Sydney have the industry knowledge and technical expertise to successfully address the specific circumstances, needs and objectives of their clients.
We are a firm of dedicated, honest practitioners who work in a down-to-earth culture. All our team members are commercial, decisive and innovative.
They treat their clients with respect, and are approachable and accessible at all times.
Elliott Currie
Clint Joseph
Andre Strazdins
Ian Currie
David Coyne
John Carrello
Moira Carter
Shaun Boyle
Stefan Dopking
John Keenan
Andrew Cummins
Maris Rudaks
James Taplin
Peter Krejci
WHO WE WORK WITH
Works closely with a range of business stakeholders, including financiers, solicitors, accountants & creditors, as well as the directors of businesses in financial distress.
Financiers.
Empowering financiers with tailored solutions to secure their investments
Solicitors.
Partnering with solicitors to navigate complex legal landscapes with precision.
Accountants.
Collaborating with accountants to ensure accurate financial management.
Creditors.
Assisting creditors in recovering their dues efficiently and effectively.
Company Directors.
Guiding company directors through financial distress with expert advice.
What We Do
Explore our financial solutions
Business Recovery & Turnaround
At BRI Ferrier, we understand the many pressures that can push businesses over the edge. If engaged early enough, we also know how to turn the situation around.
Business Insolvency
At BRI Ferrier, we have wide-ranging expertise with businesses that are, or may become, insolvent and need to be wound down in an orderly manner.
Forensic Accounting
BRI Forensics provides multidisciplinary, independent investigative support services to clients facing litigation, arbitration and regulatory scrutiny.
Personal Insolvency
Our team of registered trustees in bankruptcy across Australia works with debtors to achieve the best possible solutions to their difficulties.
SPECIALISATION
We balance our technical skills with specific industry experience and expertise.
Energy
BRI Ferrier’s energy sector practice represents one of our newest areas of expertise. We address the financial challenges of both upstream and downstream renewable energy businesses.
Financial services
BRI Ferrier’s financial services industry experience includes work with FX Market makers, Traders, ASX listed, Responsible Entities, Managed Investment Funds and Insurers.
Logistics
BRI Ferrier’s logistics sector experience includes working with transport, shipping, distribution and aviation businesses, their advisors and other stakeholders.
Manufacturing
Our extensive manufacturing experience includes work with power generation, engineering, plastics, steel, petrochemicals, cardboard, furniture and other businesses, their advisors and stakeholders.
Mining
BRI Ferrier has extensive experience with mining and mining services businesses, developing tailored, commercial and innovative solutions to financial challenges.
Primary industry
BRI Ferrier has specialist practitioners who understand and identify with the unique stresses that primary industry businesses face.
Property and construction
At BRI Ferrier, we understand the challenges of the property industry, such as falling asset values, limited funding options, diminishing confidence, lack of working capital, rising costs and intense competition.
Retail
It includes work with fashion, electronics, consumer services, consumer durables, automotive, heavy machinery and furniture businesses, as well as supermarkets and other food retailers.
Tourism and hospitality
BRI Ferrier’s tourism and hospitality industry experience includes work with accommodation and leisure related property, hotels and motels, resorts and tour operators, catering companies, restaurants and bars, as well as their advisors and other stakeholders.
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