{"id":9544,"date":"2024-06-03T07:38:00","date_gmt":"2024-06-03T06:38:00","guid":{"rendered":"https:\/\/futuramo.com\/blog\/?p=9544"},"modified":"2024-06-03T19:47:29","modified_gmt":"2024-06-03T18:47:29","slug":"where-to-start-with-a-company-restructuring-plan","status":"publish","type":"post","link":"https:\/\/futuramo.com\/blog\/where-to-start-with-a-company-restructuring-plan\/","title":{"rendered":"Where to start with a company restructuring plan"},"content":{"rendered":"\n

Running a business isn\u2019t all plain sailing. You\u2019ll often find yourself in situations where you need to take quick, decisive action on an issue to help the business through a stormy time.<\/p>\n\n\n\n

Facing financial problems and being unable to repay debts can be one of the most difficult situations to navigate. Here, we explore one solution that might be appropriate, looking at where you should start with your company restructuring plan.\u00a0<\/p>\n\n\n\n

What is a restructuring plan?<\/h2>\n\n\n\n

Restructuring plans are a relatively new option that\u2019s been made available for businesses that find themselves in financial trouble. Unlike some other similar financial options, restructuring plans can take a wide range of different forms. This might consist of swapping a certain amount of debt for equity in the business, or some other resetting of covenants. <\/p>\n\n\n\n

Identify why you\u2019re restructuring<\/h2>\n\n\n\n

The first step to planning and implementing any restructuring plan is to work out why you\u2019re restructuring in the first place. Shareholders and creditors need to be on the same page, so that they can come to an agreement that will result in the restructuring plan. <\/p>\n\n\n\n

Being 100% clear on where you want to take your business next is crucial. You need to make sure that you involve any relevant stakeholders during this stage, so that no one is left out.<\/p>\n\n\n\n

Get support<\/h2>\n\n\n\n

To create your restructuring plan, you\u2019ll need to get help from a range of service providers. Seeing as this will be necessary at some point, we recommend reaching out sooner rather than later. <\/p>\n\n\n\n

Depending on the circumstances behind your restructuring plan, you may need assistance from insolvency practitioners such as Chamberlain & Co<\/a>, accountants, solicitors, and potentially even business advisors who can help you navigate the best possible route going forward.<\/p>\n\n\n\n

Focus on the long-term<\/h2>\n\n\n\n

When creating your restructuring plan, it\u2019s important that you plan with an appreciation of the long-term implications of what you\u2019re doing. For example, you need to be sure exchanging equity for debt isn\u2019t going to put you at a serious disadvantage, or end up costing you more than another form of payment.<\/p>\n\n\n\n

Taking this perspective can be difficult, and will likely involve making certain predictions. That being said, it\u2019s crucial to ensure that the plan will be one that truly works for the long-term health<\/a> of the business, rather than just a short-term solution that ultimately causes more harm than good.<\/p>\n\n\n\n

Look at what\u2019s working<\/h2>\n\n\n\n

While planning your new company structure<\/a>, it\u2019s important not just to throw everything out and then start from scratch. Even if there are aspects of your company structure that are failing, there will likely also be parts that work really well.<\/p>\n\n\n\n

Identify the parts that provided benefits in areas such as legal protection and taxation, and try to bring those forward into your new company structure.<\/p>\n\n\n\n

There will likely be a range of potential solutions for your business if you find yourself facing serious financial difficulty. It\u2019s important that you get help from the right services, so that you can be sure the solution you choose is right based on your circumstances.<\/p>\n","protected":false},"excerpt":{"rendered":"Running a business isn\u2019t all plain sailing. You\u2019ll often find yourself in situations where you need to take…\n","protected":false},"author":2,"featured_media":9545,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0},"categories":[119,1083,1308,98,99],"tags":[3898,3899,3171,3901,3900,2107,3902],"yoast_head":"\nEffective Company Restructuring Plan Guide<\/title>\n<meta name=\"description\" content=\"Explore the steps to create an effective company restructuring plan to navigate financial difficulties and ensure long-term business health.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/futuramo.com\/blog\/where-to-start-with-a-company-restructuring-plan\/\" 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