Survival Sometimes Means Making Fundamental Change #012

Published on 9 November 2010 by Tony Groom Any successful business would be expected to be constantly monitoring its activities and modifying them where necessary to improve the efficiency and its various offers. Continuous business improvement does two things: it optimises existing processes and keeps them optimal by continually updating them. But on its own, […]

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Saving insolvent companies needs both a restructuring and business plan #058

Published on 25 July 2011 by Tony Groom Following the demise of Rok and Connaught, another national building maintenance company, Kinetics Group, has just gone into administration with 500 employees being made redundant leaving a skeleton staff of 50 to deal with its five sites. The Kinetics Group had provided building maintenance solutions to over […]

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Latest Insolvency stats suggest Zombie companies are still hanging on #061

Published on 5 August 2011 by Tony Groom The latest Insolvency Stats published on Friday suggest that Zombie Businesses are holding back the UK Economy, says company doctor Tony Groom, of K2 Business Rescue. A summary of the Q2 2011 UK insolvency statistics shows: Compulsory Liquidations up; Voluntary Liquidations down; Administrations down and CVAs static. […]

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HMRC Taking a Tougher Line on Debt Recovery #036

Published on 25 February 2011 by Tony Groom Evidence is emerging that HM Revenue and Customs is adopting a tougher approach to PAYE, VAT and tax arrears and increasingly using its powers of distraint to take over control of the goods, stock and assets of businesses. In one example this week, just two hours after […]

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Employing Restructuring Advisers to Help Save Your Company #003

Published on 16 September 2010 by Tony Groom There are a number of options for companies who find themselves in financial difficulties, but a real challenge is finding someone to help. It’s made more difficult if the directors/owners take the view that they know their business better than anyone else and infer from this that […]

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Business Turnaround Process Involves Completing Three Phases #011

Published on 14 November 2011 by Tony Groom There are essentially three phases to a business turnaround which are the first, emergency phase to try to ensure survival, followed by a stabilisation phase which includes a thorough look at any fundamental changes needed to achieve a viable business and finally the growth phase to secure […]

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Cash is King When a Business is Facing Financial Pressure #010

Published on 14 November 2010 by Tony Groom A company can be said to be insolvent on any one of four tests: the cash flow test, balance sheet test (negative asset value), an unsatisfied judgement (usually a county court judgement) or an outstanding statutory demand. Of these four the most crucial is the cash flow […]

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