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About your recovery partner

  • Accountants Daily
    Finalists, Fastest
    Growing Firm
  • AFR Top lOO
    Accounting Firms
  • CA and CPA
    Qualified
    Accountants
  • National Team
  • ASIC Registered
    Liquidators
  • ARITA
    Professional
    Members
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My experience with Domenic Calabretta and the team at Mackay Goodwin was exceptional. They came out to see me the very next day, assessed my business and explained my options. During the administration they were always contactable and transparent.

-Anthony Berg

What is Restructure and Turnaround?

Business is tough. It is ever-changing. There are times when the business is at it’s peak, only to face a crucial challenge next. This is where restructure and turnaround act as solutions to financial pressures and distress. Restructure and turnaround allow you the opportunity to save the business, strategise and back to profitability.

As insolvency experts we have the outside advantage, to review the company’s affairs from an outside perspective. Providing clear communication, clear plan and effective outcome for all parties involved.

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How do I know if it’s time to speak to a professional?

If you are experiencing one or more of the below indicators, get in contact with our restructuring experts today.

Received a Director Penalty Notice (DPN)

The ATO issue a DPN to directors who can become personally liable for the company’s debt.

Tax debt is accruing and overdue

The ATO are the biggest creditor for businesses. In certain situations, they may issue directors personally liable for the debt.

Hassling creditor calls

Receiving hassling calls from creditors regarding their unpaid invoices? Speaking to our expert team can help put an end to the calls.

Key clients and employees leaving

When key clients, customers or employees are leaving the company. It is an early indicator action needs to be taken.

Cashflow issues

Facing significant changes in cashflow/revenue is likely to result in the business trading insolvent.

Unable to borrow funds

Traditional lenders or alternative financiers have rejected your ability to access funds is often a warning sign the business is insolvent

Warning Letters

If a creditor has issued a Statutory Demand or a warning Director Penalty Notice. It is best to get in contact early to deal with the debt.

Issues with PAYG and Superannuation tax

When the business is struggling to meet it’s PAYG and Super obligations, it is best to take early action.

There is no ‘one size’ fits all when it comes to solutions.
We’re in the business of resolution.

1. Talk to Us

Submit your
enquiry to our team
of experts

2. Review your
options

We will present a number of
options, advising on the best
process for a positive outcome
for all parties involved.

3. Reduce your
stress

Understanding the weight
of financial stress. We strive
towards a smooth, fast process,
to focus on the next steps.

The first step is the hardest. The next steps?

They may include:

We've helped businesses just like yours.

Reducing debt levels by 85%, back to profitability

An electronic security company in Brisbane with clients ranging from small boutiques to international mega-corporations within Australia was experiencing difficulty with their cash flow, so Mackay Goodwin stepped in to help. An 85% reduction in debt got the company through a major trading and cash flow problem.

Turnaround legal expenses into a positive

When an Adelaide building development corporation found itself in a lengthy and protracted legal dispute over a costly project, it found itself unable to trade out the heavy losses it had incurred as a result of the deal. Thanks to a DOCA, restructuring and dispute resolution managed by Mackay Goodwin, the corporation continues to trade today.

A 75% reduction in debt levels saw Melbourne-based company thrive again

When a Melbourne-based earthmoving firm managed to contact Mackay Goodwin over their financial difficulties, they had built up a $280,000 backlog with the Australian Taxation Office (ATO). Thanks to the advice and actionable solutions of our experts, the firm saw A 75% reduction in tax debt, and it got this earthmoving corporation moving again.

Frequently Asked Questions (FAQs)

A company can undergo a restructure at any given time. There are key moments in the business life cycle that highlight the need to consider a restructure, they include:

  • Change in management/ownership
  • Stagnant growth
  • Economic downturn
  • Poor efficiency
  • Experiencing insolvency
  • Have undergone a merger & acquisition
  • Want to increase profitability

If your business is experiencing any of the above indicators, it’s best to get in contact with our expert team to maximise return and minimise the businesses risk.

During a restructure, the director/s maintain control of the company’s affairs. The restructuring practitioner has a duty to act as the company’s agent.

Business turnaround refers to when the business hits a pivot from negative to positive. It puts the business on the path back to profitability. The turnaround process involves a strategic plan, review and execution usually triggered by a serious financial challenge.

When your business is experiencing financial distress, it can be confusing knowing which path is the right one to take in alleviating your financial worries. There is common confusion between liquidation and administration amongst business owners.

Entering liquidation is for when the business needs to close it’s doors and wind up company’s affairs. The process involves selling assets to repay creditors following a de-registration. Whereas, administration is when the business is experiencing challenges yet still deemed viable. An experienced insolvency practitioner is able to determine which path is the best for the business and their goals.

Meet the people in your team, in your corner.

At Mackay Goodwin, we have a nationwide team ready to assist you. Our team of qualified professionals, including ASIC registered liquidators are experts at finding solutions for people facing financial difficulties. Located across all major Australian cities, we’re ready to help you in any situation.

Edwin Narayan

Director & ASIC registered Liquidator

Sydney

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Abby Xu

Senior Analyst

Sydney

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Ramina Ahmed

Analyst

Melbourne

Read More

Edwin Narayan

Director & ASIC registered Liquidator

Sydney

Read More

Abby Xu

Senior Analyst

Sydney

Read More

Ramina Ahmed

Analyst

Melbourne

Read More

Get in touch

Speak to one of our experts now for a free consultation.
Enter your details below or call 1300 750 599.

x

Get in touch

Speak to one of our experts now for a free consultation.
Enter your details below or call 1300 750 599.