Many borrowers are coming under pressure to maintain both interest and capital repayments. This applies across all sectors of the economy and in particular to the construction industry.
Mazars has set out the stages of a debt restructuring plan that can help you to assess your options and set out a plan to move forward. The plan includes four stages:
- Assessment of your financial situation and the impact of your financial situation on your ability to service your debt
- The impact of the covenants in your loan agreements, particularly personal guarantees.
- What options can be proposed to your bank to restructure your debt?
- What is the likely response from your bank?
Our business and restructuring team can assist you to implement an appropriate restructuring plan in:
- Preparation of the raw data to assess your financial situation
- Assessment of the impact of your financial situation on your debt obligations
- Consideration of the options available to your business to restructure your debt
- Presentation and negotiation with the bank (or banks in a multi lending scenario)
For more information email email@example.com
Covid-19: Supporting your Business
As the COVID-19 crisis deepens and brings our economy and its businesses to a standstill, what should business owners be doing to best position themselves for the immediate challenges that confront them? Our Advisory team are working closely with businesses and financial institutions and have set out below some useful tips for business owners to help navigate their way through this unprecedented situation.
Covid-19 Debt Advisory
The speed with which COVID-19 has spread globally and in Ireland, along with government measures to contain the virus, means there will be a significant financial impact on businesses. As with any crisis, there will be both opportunities and challenges.