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A major banking client recently introduced a customer with a significant decline in turnover and a loss of management focus. The bank stood to lose over £0.5m, the directors everything

Business Turnaround and Insolvency: Innovation in the field of Corporate Rescue

Innovation in the field of Corporate Rescue

A major banking client recently introduced a customer with a significant decline in turnover and a loss of management focus. The bank stood to lose over £0.5m, the directors everything. Thorough analysis revealed crucial marketing flaws and lack of specific sales skills. Restart designed and oversaw the delivery of a comprehensive remedial package involving print and radio advertising to promote a corporate make-over; revisions to signage and retail messaging; a retail sales skills development plan and sales floor re-design to maximize sales opportunities. Restart provided ongoing consultation with the owner/managers, their accountants and reported key milestone and KPIs back to the bank on a regular frequency.

Within a year the business recovered its position, enabling the directors to exit with no loss to the bank. This was achieved with a combination of knowledge, teamwork, creative thinking, faith and dedication to the success of the project, even when the owners themselves were losing heart. 25 people kept their jobs and the business continues in new hands.

And what did the bank have to say?

“The team at Restart have a wide range of skills and experience required when dealing with complex situations. They deliver excellent client and customer focus through a pragmatic, professional and straightforward approach offering viable solutions without compromising their principles of fairness and honesty.  We admire their positive “can do” attitude and their willingness to go the extra mile when required which makes all the difference in a working relationship.

Insolvency is rarely our preferred option and it is refreshing to have a supplier who is able to look beyond present difficulty and consider alternative strategies to encourage business survival and local employment.”

Case Studies

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