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Business restructuring

The sooner we talk, the more options you’ll have

Sometimes, a business has an underlying issue that can’t be solved by just working harder

Financial distress can be complex both in terms of analysing the causes and in identifying and implementing the solutions.

Our award winning business recovery and restructuring team is part of the wider deals and restructuring (D&R) division which includes all the necessary skills and experience to optimise outcomes for all stakeholders.

Most of our works starts with an advisory role. This typically includes:

Assisting in the preparation of a business plan
Reviewing the options that are available to the directors
Advising the directors on their duties and potential personal risks

This is where our D&R colleagues add real value. We can draw on a huge range of sector experience to assist with business planning and we have dedicated funding specialists whose reach goes way beyond the mainstream banks.

Our aim is to recover the business and avoid insolvency processes where possible, perhaps by securing fresh funding or by pragmatic commercial negotiation with key creditors (including HMRC).

If formal insolvency is necessary our licensed practitioners will provide the necessary experience and expertise.

Funds returned to shareholders

In the last three years we have carried out over 140 MVLs and returned £121m to shareholders.

Early action can save jobs

Saving a business as a going concern safeguards jobs and maximises returns to creditors. Since the pandemic we have used the administration procedure to save over 250 jobs.

For example, after a difficult trading period long established garage equipment company, Tecalemit, ran into supply issues due to the insolvency of its main supplier which lead to unmanageable cash pressures.

We ran an accelerated marketing process which generated a number of offers for the business as a going concern. A sale was agreed which not only saved all jobs but should also lead to substantial (or even full) payment to all creditors.

Winners at the TRI Awards 2025

Other restructuring services include:

Lender and creditor services

If a secured or other creditor is concerned about an exposure we can help in assessing how best to proceed or to recover the amount due. We normally work with the borrower but where the relationship has broken down we will act robustly for the lender.

Solvent liquidations (MVLs)

A members voluntary liquidation (MVL) can be a tax efficient way to return capital to shareholders of a company which has no further purpose. We can assist in the preparation and execution of MVLs, including minimising the risks of HMRC challenge under anti avoidance legislation.

“I was very pleased with the support from PKF Francis Clark in closing my consulting firm as I approached retirement. I was kept well-informed at each step, had my queries answered promptly, and had full clarity of the process. I certainly felt I was in competent hands.” Elmar Toime

“Working with Lucinda and the team was a smooth experience from start to finish. From the moment Lucinda got in touch, the communication was excellent. The work itself was complex, but Lucinda quickly got to grips with the situation and found solutions. The report she produced was structured, clear, concise and genuinely credible, giving us the professional overview and options we needed. Her approach stood out: responsive, practical, and able to explain complicated issues in a way everyone could understand. I’d happily recommend Lucinda to others and would welcome working with her again in the future. ” Finance Consultant

“I had the pleasure of working with Nick and Dan earlier this year. As an organisation our dealings with insolvency tend to be as an unsecured creditor which means it is a routine, pre-determined process conducted through a series of letters. As such, this was the first time that I’ve had an interactive experience with insolvency practitioners/administrators. At the outset of this process when we found out our supplier was at risk the situation was vague, options unclear and there was an increasing sense of panic. For us, as a customer at risk of losing a critical service, this was extremely unnerving. Thankfully Nick became involved and, after that, the process became much clearer, giving us the tools to manage both our own and the wider situation. Without this, I suspect that we could easily have felt forced down a route that would have frustrated the ultimate outcome – a sale that saved jobs, money and ensured service continuity. It is only fair to attribute that outcome and its success to Nick and his team. They were clear, helpful, responsive, professional and, importantly, collaborative at all times.” NHS Body

“Lucinda demonstrated exceptional professionalism, integrity and, above all, an honourable approach throughout a highly complex case spanning several years. From the outset, it never felt like competing interests were at play; instead, her focus was on achieving the best possible outcome for the victims and creditors. She fostered an open and collaborative working relationship, communicated clearly throughout, and took the time to explain complex insolvency matters in a way that enabled us to progress the case effectively. Her commitment to doing the right thing, combined with her technical expertise and willingness to work together towards a common goal, made her an invaluable partner, and I would have no hesitation in recommending both Lucinda and PKF Francis Clark.” Paul Manifield, Police Staff Investigator, Devon and Cornwall Police Complex Fraud Team

“This was a complex and fast-moving situation, so we needed someone we could trust to get up to speed quickly and take control. That’s exactly what Nick Harris did. From day one, he and the team were on the phone to the client, arranging meetings and moving things forward at pace. There were a lot of stakeholders involved and some real challenges to work through, but Nick made the whole process feel smooth and straightforward. Communication was excellent throughout, and although we know there was a huge amount of work happening behind the scenes, everything appeared effortless. Nick combines real technical expertise with a calm, approachable style, which was exactly what this situation needed. We knew it was going to be a challenge, and that’s why we picked up the phone to Nick. He was exceptional from start to finish.” Matthew Richards, Ultimate Finance

“Nick, Charles and Nikita assisted us in reviewing the financial affairs of our much-loved family business following the death of our father. They provided invaluable advice and guidance, helping us navigate complex issues and make difficult decisions within challenging timescales. Throughout the process, the team demonstrated exceptional pragmatism, consistently identifying sensible, practical solutions and maintaining momentum even during the most challenging moments. The best possible outcome was achieved thanks to their professionalism, commercial acumen, and unwavering commitment.” Jonathan Lam and Anna Richardson, directors of Rokewood Limited