How We Help

Business Turnaround & Restructuring

It’s do-able to undo, with turnaround experts

Business can be tough. Before you throw the towel in, we help you consider what can be done to turn around a business first, exploring restructuring options that can buy you valuable time to get back on your feet.

Turnaround

Business turnaround people

We are insolvency and turnaround teams, who help both companies and individuals to recover from a difficult business or personal financial situation.

We operate as specialists in a unique sector, dealing with bad debts and distressed businesses and personal finances. We have the tools and framework to lead all parties through choppy seas.

Service highlights

Business turnaround people

Solving the right problems at the right time can be the difference between a business surviving or failing. Our people are trained to identify the right action plan for each unique situation, helping businesses in all industries and business models to pivot out of difficult times where possible, and create viable pathways for the business’s future.

Get a business assessment

Expert review of business financials and business pressures.

Get an insolvency assessment

Careful considerations of the net effect if an insolvency appointment comes into play, either voluntarily or driven by creditors.

Right-size the business

Restructure business operations to make a profit more efficiency while meeting current market demands, in the current economic environment.

Address legacy debt

COVID-19 economic response measures enabled companies to continue while debts continue to accrue. Restructuring allows legacy debt to be addressed and strategically planned for.

Adhere to director duties

Directors benefit from safe harbour protection from an insolvent trading claim while undergoing restructuring.

Save the business

Continue to drive economic suitability and growth. Protect jobs, supporting businesses, landlords. Keep contributing to industry and community.

How we help

Difficult business or personal financial situations

We operate as specialists in a unique sector, dealing with bad debts and distressed businesses and personal finances. We have the tools and framework to lead all parties through choppy seas. Tough situations often mean honest conversations and we will never shy away from the straight talk that insolvency demands.

Case Study

A beautiful result for Napoleon Perdis cosmetics

The Napoleon Perdis directors implemented a range of cost-cutting strategies where possible to improve the bottom line; however, lease and employee entitlement obligations made this process somewhat futile. An unsuccessful private business sale campaign followed, due to the clear need for a business restructure to ‘right size’ the retail profile.

Worrells were appointed voluntary administrators to continue trade while restructuring the business for a potential buyer under a Deed of Company Arrangement (DOCA) solution.

Results

Iconic Australian brand saved

Business IP and stakeholders preserved. Customers keep the brand they love.

Minimal footprint & disruption

Quick dividend distribution. Four-month restructuring process end to end.

Who we help

We help companies, individuals, and professional advisors

We help people and businesses in all industries and structures. Through professional advisor networks and relationships we help those on “the front line” (who are often charged with uncovering a difficult financial situation) to see how Worrells can help to change the course.

I have no hesitation in recommending Worrells. I recently had the misfortune to be a creditor in a matter which became increasingly difficult due to several challenging legal issues. Dane and the team at Worrells continued when others would have taken the easy way out.

Petria Padella
Creditor

We’re here to help

We speak with people and their advisors every day. We do this as complimentary and without expectation.

SEE FULL TEAM

Jason Bettles

Principal, Gold Coast, Northern NSW

Jason Bettles

Principal, Gold Coast, Northern NSW

Aaron Lucan

Principal, Western Sydney, Central West

Aaron Lucan

Principal, Western Sydney, Central West

Stephen Hundy

Principal, Canberra, Wollongong

Stephen Hundy

Principal, Canberra, Wollongong

Mervyn Kitay

Principal, Perth

Mervyn Kitay

Principal, Perth

Matthew Kucianksi

Principal, Melbourne, Ringwood

Matthew Kucianksi

Principal, Melbourne, Ringwood

T: 03 9613 5518

F: 03 9613 5599

EMAIL Matthew

Business can be tough

Our team is focused and ready to help

Contact a Principal

Subscribe for all the latest help and news

Subscribe