Restructuring and Insolvency Lawyers

Advising businesses in their most challenging times

Corporate Restructuring and Insolvency

Putting in place successful corporate restructuring and turnaround strategies relies on identifying areas of business stress and distress as early as possible.

In any situation when things take a turn for the worse, our corporate restructuring and insolvency team work closely and quickly with clients to ensure options are available to guarantee the best possible commercial outcomes where possible. This can be a time of enormous uncertainty for businesses and so we ensure we offer clear and commercial advice keeping business goals and the future objectives of the business front of mind.

We can advise on:

  • Restructuring options
  • Cash flow advice
  • Refinance and signpost to recent government grants, bounce back loans, and CBILs
  • Directors’ Duties
  • Debt recovery

 

  • Negotiating scaled back credit terms
  • Workforce planning
  • Advising on cost control
  • Advise on communication with key stakeholders: fellow directors, landlords or other creditors, customers and suppliers, or HMRC

Experienced Business Advisors

Our team are experienced and skilled business advisors, offering sector insight alongside corporate restructuring advice. The sooner we are brought into a situation to advise a business in distress the more options there are available and it is our role to unearth those opportunities for the business through creative thinking and the right solutions to complex issues.

The team has a strong reputation working with a broad range of clients including:

  • Lenders
  • Creditors including banks and investors and other stakeholders
  • Insolvency practitioners and turnaround professionals, as well as
  • Corporate clients and their boards

As a team we have expertise in contentious issues as well as non contentious regularly acting for insolvency practitioners and stakeholders advising on antecedent transactions and Director’s conduct.

Why choose Shakespeare Martineau?

  • We are business advisors first and foremost: we will seek to understand your business and the problems it may face. We will look at all areas of insolvency law and how it impacts your business.
  • We find creative solutions keeping your clear goals and commercial objectives in mind
  • We have expertise across a number of sectors ensuring we understand the specific issues you are facing
  • We understand that each business is different, we bring real advice, empathy and experience to every situation.

Want to find out more about our restructuring services or have further questions?  Contact us today using the button below.

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What our clients say

Meet our corporate restructuring & insolvency experts

Our corporate restructuring case studies demonstrate the breadth of experience and the results we have achieved for clients

If you want to find out more about our experience or have further questions please do not hesitate to get in contact with us.

Hotel-vector-in-circle

Travel company

Scenario:
We acted for a leading package holiday provider in a solvent reconstruction. The company had been formed through a leveraged buyout that had left the group with over £170 million of debt, including senior, mezzanine and PIK.

After difficult trading conditions in the industry the enterprise value of the group had reduced to the extent that only the senior debt had any value.The transaction involved dealing with minority shareholders, introducing new equity incentive arrangements for incoming management and dealing with the CAA, the industry regulator.

Outcome:
The junior debt providers agreed to swap their debt for equity instruments and the senior lenders restructured their facilities to allow the group to continue trading.

hotel-circle

Hotel chain 

Scenario:
We acted for the owner of a substantial chain of hotels on a restructuring to preserve the good parts of the business. The company owed circa £275m to its senior lender with no prospect of repaying all the debt.

The annual interest bill exceeded EBITDA by over £1 million per annum. The group also needed to spend £1m pa on cap ex to preserve value in the hotels.

Outcome:
The bank agreed to reduce the debt to £110m in exchange for taking equity ownership in the book of good hotels and leaving a limited number of hotels with landlords who would not renegotiate leases.

This was structured as a highly complex arrangement including balance sheet reconstruction and a pre-pack administration of one of the group companies, thereby preserving the solvent companies in the group.

Manufacturing-

Manufacturing

Scenario:
We acted for a high street bank in connection with the restructuring of its financial facilities as part of a re-capitalisation of a manufacturing business in the West Midlands.

The re-capitalisation was put in place to restore the solvency of the group and to strengthen the balance sheet of the group. As part of the restructuring, the Bank accepted a haircut on its outstanding debt, extended its facilities and additional equity capital was introduced.

Outcome:
The restructuring successfully preserved the business and several thousand jobs.

Education

Education

Scenario:
We worked with a leading, modern university in the acquisition of a smaller private education provider after it went into administration.

This was a large private provider of higher education with many thousands of students affected by the insolvency

This required us to deal with many complex issues over a very short time frame – regulatory, insolvency, employment, real estate and commercial.

Outcome:
We advised them on the successful transfer of students, property portfolio and IP through the provision of a transitional service agreement.

We helped ensure the successful and relatively seamless transition of these students.

Brewery

Brewery

Scenario:
The team acted for two individuals as joint administrators of an independent taproom and microbrewery with premises in London specialising in craft ales.

We worked with the directors to secure the appointment of administrators on an urgent basis, given pressure from creditors including HM Revenue & Customs.

The team advised the administrators in relation to a pre-packaged sale of the business and assets, with ancillary property work, through an accelerated mergers and acquisitions process.

Outcome:
Our advice helped to preserve the trading status of a unique brewery, as well as the employment of key staff, and generated a settlement to secured creditors with a limited return also to unsecured creditors.

Home-vector-outline

Care home

Scenario:
The team advised on the administration of some 37 care homes over 11 companies, which formed part of a larger group. The matter was extremely sensitive given the nature of the care home industry and the requirement for continuity plans and certainty of care.

The team liaised with stakeholders, the Care Quality Commission, to ensure that a proper structured plan was in place. We then went on to negotiate a series of operating agreements with new operators who would in due course replace the incumbents.

The team proceeded to prepare the necessary documents for an administration application on an urgent basis, with a view to securing appointment.

The team has also advised on regulatory issues, GDPR issues and TUPE issues given that there are around 2,000 people employed within the 37 care homes mentioned.

Outcome:
Transferred business of around 70% of care homes to other accredited providers and expect to do similar with the balance of the portfolio in the next few weeks ensuring continuity of care for residents.

SHMA® ON DEMAND

Download and listen to our most recent corporate restructuring and insolvency SHMA Talks and informative webinars.

Preparing for the recession

13 May

Michael Mulligan, Partner
Preparing for the recession

This webinar will look at the lessons learnt from the 2008 financial crisis and […]

COVID-19 | Preserving your business and avoiding insolvency

20 Apr

Sean Moran, Partner
COVID-19 | Preserving your business and avoiding insolvency

In this webinar, we will focus on 5 key steps you can take to […]

COVID-19 | Minimising financial risk to business

19 Mar

Sean Moran, Partner
COVID-19 | Minimising financial risk to business

In this webinar, we will look at the key steps businesses can take to […]

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Call us on 0330 024 0333 to find out more about what we can do for you.