How We Help
It’s do-able to undo, with turnaround experts
Business can be tough. Before you throw in the towel, we help you consider what can be done to turn a business around, exploring restructuring options that can buy you valuable time to get back on your feet.
Turnaround
We are insolvency and turnaround teams, who help both companies and individuals to recover from difficult business or personal financial situations.
We operate as specialists in a unique sector, dealing with bad debts, distressed businesses, and personal finances. We have the tools and framework to lead all parties through choppy seas.
Service highlights
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.
Expert review of business financials and business pressures.
Careful considerations of the net effect if an insolvency appointment comes into play, either voluntarily or driven by creditors.
Restructure business operations to make a profit more efficiently while meeting current market demands, in the current economic environment.
COVID-19 economic response measures enabled companies to continue while debts mounted. Restructuring allows legacy debt to be addressed and strategically planned for.
Directors benefit from safe harbour protection from an insolvent trading claim while undergoing restructuring.
Continue to drive economic sustainability and growth. Protecting jobs, supporting businesses, stakeholders, and landlords. Helping businesses to continue to contribute to industry and the community.
How we help
Case Study
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
Delve into the latest news and insights from the team at Worrells.
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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.
We speak with people and their advisors every day. We do this as complimentary and without expectation.
Principal, Gold Coast, Northern NSW
Principal, Gold Coast, Northern NSW
Principal, Western Sydney, Central West
Principal, Western Sydney, Central West
Principal, Canberra, Wollongong
Principal, Canberra, Wollongong
Principal, Perth
Principal, Perth
Principal, Melbourne, Ringwood
Principal, Melbourne, Ringwood
Business can be tough
Our team is focused and ready to help
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