Financial restructuring your business in British Columbia.
Today’s social and economic events bring unique challenges to business owners in the Fraser Valley. Corporate and small businesses in many sectors are seeing monumental changes that can lead to instability to their business models. Challenges in the news recently:
- Retailers are struggling with high rent and lower sales, high wages and competing daily with online retailers.
- Governing bodies are raising minimum wage.
- Restaurant, hospitality and food service industries are frantically dealing with HR issues, lack of qualified cooks, servers and staff to keep a high quality of service.
Management, owners and good leaders understand when it is time to change strategies and take proactive measures to adjust the business. Financial restructuring or re-positioning your business should be done in parallel to other changes such as relocation, re-branding, product or process changes and HR changes.
How do you know when it is time to talk to our team of business financial restructuring professionals?
Here are the top 10 signs it is time to restructure the company.
- Lenders have reduced or limited line of credits to your business
- Accounts payable to creditors are past due by 60 and 90 days
- Leases are crippling cash flow
- Profit has come to a grinding halt
- Staff turnover is high and moral is low
- No capital to upgrade infrastructure, systems or technology.
- Taxes remittances, GST, employee remittances are not up to date with CRA
- Increase in debt to equity ratio
- Heath issues affecting key executives, owners or personnel impact day to day operations.
- Fraud, licensing infractions or illegal activity
We offer highly experience solutions for today’s business owners. Our experience associated to corporate turn-around includes CCAA, Receivership, Debt Assessment, Exit Strategies, Bankruptcy and Corporate debt reduction proposals.
As Licensed Insolvency Trustees in Chilliwack and the Fraser Valley we offer you solutions to help you avoid business bankruptcy.