Both the UK and global manufacturing sector are facing a turbulent time. Since the recession, demand has collapsed and the added complexity of the eurozone crisis and political uncertainty has left many established manufacturing businesses focusing on managing diminishing revenues.
For UK manufacturers, the reduction in exports combined with increased low-cost competition from emerging markets has led many to reassess their structure and cost base.
Our experience, gleaned from decades spent in support of the sector, demonstrates that appropriate restructuring advice for companies in distress will help them steer a sensible path towards continued trading.
Our approach is holistic in nature; in many situations the root of the problem is not simply financial – this is often just the symptom. Our experience means we also review sales and marketing structures, product line and competitor analysis, combined with production system efficiencies, as well as supplier arrangements. This intelligence enables us to put forward sound and commercially viable solutions that will assist the business in getting back on track.
Our expertise is also supposed by our dedicated BRITE team – this is a group of specially selected financial and operational directors with first-hand experience of working within the sector. All have held senior positions and have an enviable track record in areas such as sales and marketing and operational matters. In our experience, they can add significant value to UK businesses.
In the unfortunate circumstance that a business is unfit to continue trading in its current form, we can provide a number of options best suited to the needs of the business which will help secure jobs and maintain vital supplier relationships. As a leader in the practice of implementing company voluntary and scheme arrangements, we are perfectly positioned to offer support in this complex area.
The challenge we set ourselves and our clients is to get the top line moving for UK manufacturing firms. By bridging funding gaps, reviewing and restructuring operations to make them lean and fit for purpose, we have helped business owners find relief from the considerable challenges of negotiating with creditors, allowing them to run their business and take advantage of opportunities to move the company forward profitably.
From the days of Industrial and Commercial Finance Corporation (ICFC) through its successor 3i, we have been actively involved in securing bridging finance and enterprise finance guarantee loans for hundreds of companies, while our membership of regional finance boards across many provincial centres means we can track the available sources of funding to businesses as and when they come to market.
Our advice includes:
- Distressed business restructuring
- Revenue generation
- Competitor and benchmarking analysis
- Refinancing advice and solutions
- Overhead cost re-engineering
- Accurate forecasting and cash flow management
- Operational systems review
- Product line analysis
- Production efficiency analysis
- Supply chain rationalisation
- Logistics and distribution efficiencies
- Theft, fraud investigations and asset recovery
- Purchaser and investor introductions
Our Expert Partner – John Kelly
John has specialised in corporate recovery and restructuring since qualifying as a chartered accountant in 1977. A former partner in Ernst & Young and Kroll, he has always been based in the Midlands and as a result has a vast experience in dealing with manufacturing companies. He was instrumental in the setting up of the Advantage Transition Fund, originally created to assist the suppliers of the failed MG Rover business.
For further information about our manufacturing expertise please Contact Us.