Preferred Results is a business improvement and turnaround company.

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.

The appointment of Preferred Results Ltd. can occur in a number of ways. For example:
The Board of a company appoints Preferred Results Ltd. as its Turnaround Service Provider after a significant creditor loses confidence in the MD/CEO and all or part of the Management Team

After acquiring a business the new owners decide to replace some or all of the former management team
While the European Turnaround Management Association has many ‘Associate’ Members in Ireland, as at January 2021, Raymond O’Hanlon is the only ‘Certified’ Turnaround Professional in Ireland on the register of the European Turnaround Management Association.

Pre-examinership workout

Getting help early can make the difference between the survival or closure of a business. A Pre-examinership workout is effectively an examinership without court backing. Working with one of our own Associates, or in partnership with an Accountancy Practice or Liquidation Service Providers, a comprehensive turnaround plan is prepared for the business. In addition to financial analysis and projections, the plan covers a revised strategy for the business and operational changes to be introduced.

Trading during Receivership

Where it is determined by a Receiver that the best option for maximising the value of the assets of a company is by continuing to trade during Receivership and where there is a good fit between the nature of the business and the experience of Preferred Results Ltd., we welcome the opportunity to enter into discussions with the Receiver with the view to arriving at an agreement to take over the running of all or of part of the business.

This is invariably a challenging and potentially hostile environment and requires a high degree of skill and experience

The types of businesses which fall within our comfort zone are Manufacturing and Processing-type businesses with 50+ employees.

Interim Management Services

In the provision of Interim Management Services, we focus on organisations in crisis because that is where we add the most value. The sudden departure of a CEO or COO or other Key Manager for whatever reason can trigger a real crisis in organisations, particularly in organisations with no succession planning and/or where the appointment arises out of a change in the ownership structure. At short notice Preferred Results Ltd. can step into the breach to take immediate control of such organisations and has demonstrated success in doing so.

Our ability to take charge stems, not only from our years of experience of dealing with crises and managing organisations, but also, it comes from being in a position to draw on the expertise of a wide cross-section of experienced professionals to handle specific complex issues as and when they arise.