The Business Turnaround service is a speciality niche within which Preferred Results has extensive experience and expertise. Unlike Performance Improvement projects where companies have the luxury of time to undertake detailed analysis and build perfect business models for future gains, a Turnaround situation is, almost without exception, a highly stressful condition in which a company finds itself as it struggles with severe cash flow issues and concerned stakeholders such as Creditors, Employees, Unions, Customers and others.

Turnaround assignments require a deep understanding of Operations and Finance across “ALL” of the functional areas of the business and an ability to “think outside the box” in a high-pressure environment in order to rapidly restructure, reorganise and generate creative solutions to avoid more serious outcomes such as the Company being placed into Examinership, Receivership or Liquidation.

In the past, rather than providing a consultancy service, PRL has taken over the running of businesses where the threat to the survival of the operations was high, the magnitude of change very significant and the time constraints very tight. Once a viable plan has been agreed with the Client, a process of negotiation is commenced with an agreed list of significant suppliers in order to achieve the level of debt-write-down necessary to sustain the business. We assist clients to prepare for negotiations and where require we participate in face-to-face meetings with Suppliers. Once the turnaround has been delivered, Preferred Results Ltd. transitions out to a permanent management team which is put in place as part of the process.