Search
Close this search box.
Search
Close this search box.

Recovery & restructuring

We help management teams, shareholders and debtors in distressed or underperforming situations, be it cash-monitoring, forecasting and optimisation, or rebalancing the balance sheet.

Independent business review

In the context of debt renegotiations, for example in the case of a company under LBO (following a decrease in profitability and breach of covenants), Accuracy can be appointed to perform an independent business review, comprising:

  • a review of the company’s historical performance and key drivers of the business model;
  • an assessment of the current cash situation;
  • a critical review of the business plan prepared by Management based on historical figures and the economic environment;
  • an analysis of sensitivity to key internal or external factors.


Our works determines short-term cash requirements and future cash-flow generation to propose alternative debt repayment schedules and provide assistance during discussions with stakeholders (shareholders, banks, legal advisers, receivers, etc.).

Cash forecasts

In a distressed environment, cash forecasts are crucial in the decision-making process, and at Accuracy, we have developed significant expertise in modelling them. Based on management information and an analysis of historical data, we prepare a tailor-made monthly (or weekly) cash inflow and outflow forecast over the business plan period, making it possible for the company to simulate various scenarios. We also provide a forecast of the balance sheet and its development, rationalise the development of the working capital requirement and integrate additional modules such as financing and restructuring options.

ASSISTANCE IN LEGAL PROCEEDINGS AND IN PREPARING RESTRUCTURING PLANS

Accuracy can assist a company throughout an amicable or collective legal process (safeguard or insolvency). In these contexts, we can provide assistance in:

  • opening the best-suited proceedings (preparation of the financial documentation for the court);
  • dealing with accounting issues after the launch of the proceedings;
  • preparing monthly P&L and cash-flow reporting for the receiver;
  • establishing the restructuring plan (cash-flow forecasts and supporting documentation) and analysing debt repayment scenarios (10-year repayment plan and shorter alternatives);
  • preparing and holding discussions with private and public creditors and in presenting the restructuring plan to the court.

DISTRESSED M&A

In the event that a distressed company or business must be disposed of either partially or totally as part of an out-of-court or court-imposed settlement, Accuracy can be appointed to organise and schedule the disposal process. In such a case, we can perform detailed analyses of the strengths and weaknesses of the company or business and prepare different divesting scenarios, as well as identify potential business partners.  

In addition, we can prepare selling information (teaser, information memorandum, management presentation, etc.), manage the process (contact with potential acquirers, data room and Q&A sessions) and participate in both discussions on a day-to-day basis and negotiations with potential acquirers.

ACQUISITION OF DISTRESSED COMPANIES

Accuracy can assist acquirers of distressed businesses by conducting financial due diligence and advising on the most attractive acquisition scenarios. This can include analysing the past performance and current financial situation of a target and preparing a business plan, including the impact of restructuring measures and potential synergies with our client’s activities.

It can also include analysing takeover scenarios, for example choosing between a share or asset deal or determining the acquisition scope, depending on the circumstances (out of court or court-imposed).

We can further assist in assessing acquisition risks and opportunities, as well as the associated financial requirements, to ensure the viability of the project, and we can provide valuable input during discussions with the target and other parties (receiver, court, creditors, etc.).