Our restructuring and turnaround processes touch on every facet of the business. Our advice is data-driven and on-point. Find out how we can make it work to your advantage by contacting us.
Creditor and Stakeholder Negotiations
Our team negotiates on your behalf between the business’s stakeholders and creditors. Working with both parties to reduce financial risks, provide stability, and develop an actionable plan to turn the business around.
Safe Harbour
Safe Harbour (2017) is part of the Corporations Act. It protects directors from claims of insolvent trading as long as they adhere to a formal restructuring plan. At Mackay Goodwin, working as your restructuring partner, we’ll develop a strategy and a concrete plan for you to follow, setting business recovery on the rails while maintaining your legal protection afforded by the Safe Harbour provisions.
Operational Improvements
If your business urgently needs operational improvements, the sooner you get in touch, the sooner we can move you forward. Our step-by-step methodological approach makes for excellent turnaround management:
- Identifying key financial strains,
- Developing a strategy to improve processes,
- Focusing on the profitability of operations,
- Reviewing products and markets to assess their viability,
- Finding avenues for cost reductions,
- Identifying skill and resource gaps in the management team and advice on how to fill the gaps,
- Disposing of underperforming and non-core businesses. Finding solutions for affected businesses.
Voluntary Administration
Unsure if your business can stay financially afloat? We’ve helped many businesses enter into voluntary administration, with a view of continuing through a Deed Of Company Arrangement (DOCA). This enables your company to move forward while coming to an agreement on how to pay its creditors their dues.
Voluntary administration can give you the breathing space and structure you need to continue trading in a viable way, with a plan to bring your business back to profitability. Voluntary Administration provides an appropriate solution for viable businesses who are undergoing financial distress.
Small Business Restructure
Debt can be very stressful, especially if you are a small business. If the debt is less than $1 million, we can help minimize its impact on your business with the Small Business Restructure program. More cost-effective, simpler and quicker than Voluntary Administration, it allows small businesses to restructure their debts and remain in control.
We've helped hundreds of Australian businesses recover from debt and thrive:
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.
Director Penalty Notice (DPN)
A Director Penalty Notice is a notice issued by the Australian Tax Office (ATO) notifying the director/s they may be personally liable for the company’s tax debts.
After receiving a DPN, the best course of action is to contact an insolvency expert to take over the process.
Business Health Check
Our free business health check is a powerful tool small businesses can use to gain valuable insights into finances, performance, and credit rating.
An expert restructuring practitioner will diagnose areas of improvement and maintenance with actionable, measurable plans to enhance your company’s future.
Book today for your free business health check.
How to Thrive
The 3-step business recovery process to get your business on the front foot again.
Get in touch
Speak to one of our experts now for a free consultation.
Enter your details below or call 1300 750 599.
Get in touch
Enter your details below or call 1300 750 599.