Consultation and Financial Reorganization
The more one waits to address a problem the more likely it will worsen. Unfortunately many entrepreneurs have a tendency to deny or minimize their company’s financial problems being poor judges when it comes to their own business. An insolvency professional has the necessary expertise and hindsight to properly assess the financial health of a business and points towards the appropriate remedies. A fast intervention will increase a company’s chances of survival.
Since 1997, our office which is licensed by the office of the Superintendent of bankruptcy has successfully advised business people struggling with debt problems and dealing with their creditors. With the help of the business owners, we identify the issues affecting the profitability of a corporation and find creative solutions to deal with them. Many factors internal or external to a corporation may lead to its insolvency. A fast access to financial data will help management to address a difficult situation before it is too late. Rationalizing expenses and management procedures, reviewing human resource needs, adapting to changes in the marketplace, are some of the measures that can be implemented to return to profitability.
Sometimes however those measures will not be sufficient and other alternatives must be considered.