Areas of operation:
BM&T were engaged following an introduction by the company’s US Private Equity owner. The business operated in three European countries and was being split into separate entities ahead of a partial sale. There was concern that liquidity may come under pressure during the sale process and BM&T was asked to help ensure this did not happen. BM&T took on responsibility to speed up invoicing of certain customers and for collection of overdue receivables. In conjunction with this, a new 13-week cash flow forecast was introduced with BM&T consolidating forecasts from 13 different locations. When an invoice financier pulled out of the one of the countries of operation, BM&T were able to introduce a replacement. The company maintained adequate liquidity and a sale was eventually concluded.
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Notes, insights and reflections from Matthew, one of our directors and turnaround experts, as he works with companies during Lockdown.