Restructuring and turnaround advisory
Tough times demand rigour, focus and discipline. We help companies under pressure protect cash, find the healthy core of the business and put a credible plan in front of lenders and owners.
When clients call us
Most turnarounds start with cash
Clients usually call us when pressure has been building for a while. The earlier the call, the more options there are.
Cash is running short
Payroll and suppliers are harder to meet, and you need a clear view of the next thirteen weeks.
A covenant breach or default
The business is in breach or close to it, and the lender wants a credible plan.
Losses that won’t turn
Revenue has held up, but margins have eroded and the cost base no longer fits the business.
Too much debt
The capital structure was built for a different business, and interest and repayments are consuming the cash flow.
A disrupted market
Competition, pricing or customer behaviour has shifted, and the business model needs to change with it.
An exit under pressure
Owners are weighing a sale, a refinancing or a managed wind-down, and need to know which protects the most value.
How we help
Stabilize, fix and move forward
Restructuring and turnaround advisory for owner-led and investor-backed companies in Vancouver and across Canada. We work quickly and discreetly, alongside management, lenders and legal counsel.
Liquidity management
A 13-week cash flow forecast that shows sources and uses of cash, and the actions that protect liquidity while the plan takes shape.
Financial diagnosis
We take the business apart to its fundamental drivers to find the healthy core, the sources of loss and the real earnings behind the reported numbers.
Cost reduction
Costs broken down into their drivers, waste removed, and fixed costs turned into variable costs where that makes sense.
Lender negotiations
A restructuring plan and the analysis lenders need to agree to amended terms, forbearance or a refinancing.
Capital structure and refinancing
A mix of debt and equity the business can carry, and support raising new capital where it is needed.
Business model redesign
Where the problem is the model itself, we help redesign it so the business can compete again.
Our view
Find the healthy core first
Most struggling businesses still have something worth protecting: customers who value the product, a segment that makes money, a capability competitors lack. Cutting across the board can damage that core along with the losses.
We start by separating the two. Once the healthy core is clear, the decisions on cost, capital and structure follow, and management can focus its effort where it will make a difference.
How a turnaround works
Five steps from pressure to plan
In a restructuring, time matters. We start with cash, move quickly to a diagnosis, and agree a plan that lenders and owners can support.
If insolvency proceedings are possible, involve legal counsel early. We work alongside your lawyers and other advisors throughout.
- StabilizeBuild the 13-week cash forecast and take immediate steps to protect liquidity.
- DiagnoseFind the healthy core, the sources of loss and the real earnings of the business.
- PlanSet the cost, pricing, capital and structural actions, with the numbers behind each.
- NegotiatePut the plan to lenders, investors and other stakeholders, and agree the terms.
- ExecuteTrack results weekly against the plan and adjust as conditions change.
Is the business under financial pressure?
What you receive
A plan that lenders and owners can act on
Everything we prepare is built for decisions under time pressure, by management, owners and lenders.
- A 13-week cash flow forecast, updated weekly
- A diagnosis of where the business makes and loses money
- A cost reduction plan with savings by driver
- A restructuring plan and lender presentation
- Options for the capital structure, a refinancing or a sale
- Weekly reporting against the turnaround plan
Frequently asked questions
Questions we hear most often
When should we bring in restructuring advice?
As early as possible. Once pressure is visible, every week narrows the options. An early cash forecast and diagnosis often keep choices open that would be gone a few months later.
What is a 13-week cash flow forecast?
A week-by-week forecast of cash receipts and payments over the next quarter. It shows when cash will be tight and which actions protect liquidity, and it gives lenders confidence that management has control of the numbers.
Can you help us negotiate with our lender?
Yes. We prepare the restructuring plan and the analysis lenders need, and support management through the discussions on amended terms, forbearance or refinancing.
Do you help with the sale of a distressed business?
Yes. Where a sale protects the most value, we support the process through our M&A advisory practice, including valuation and buyer outreach.
How confidential is the work?
Restructuring work is sensitive, and we treat every engagement with strict confidentiality. We do not name clients in this work.
Do you only work with companies in Vancouver?
No. We are based in Vancouver, where we support companies through business restructuring, and work with companies across British Columbia and Canada.
How are fees set?
Fees depend on the scope and complexity of the work. We confirm them in an engagement letter after a first conversation, so the cost is clear before work begins.
Have a question that isn’t covered here? Start a conversation.
