In this Case Study, My Business Path stepped in to assist the business across a fourteen month period. Working through the Voluntary Administration process and a Business Restructure, a plan was devised that saw creditors paid, the company continue trading and debt significantly reduced. Read how we made this happen.
|Location||South West Sydney, NSW|
The Financial Situation
In this Case Study, this South West Sydney Structural Engineer Company came to My Business Path
- with a decent turnover and contracts
- where cashflow and debt was holding the company from moving forward
- owing a total of $440,000
- should the company fold, both the business and the creditors stood to lose money
My Business Path's role in relation to the business was to
- review the company's financial and management situation
- work alongside the company through a Voluntary Administration
- renegotiate with creditors to repay the debt and reducing it to approximately $120,000
- restructure the business and set up systems to avoid returning to any previous financial and operational difficulties
My Business Path worked closely with the business to see
- debt reduced from $440,000 to $120,000
- creditors made their money back with debts serviced
- cashflow management improved
- business continue trading
- set up systems for a viable future
The people are real. The businesses are real. My Business Path designed a tailored solution that worked.
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