Moore: Ensuring clients emerge stronger from pandemic
Pearse O'Donovan and Ned Murphy of business consultancy Moore, who have steered businesses in property, manufacturing, hospitality and other sectors safely through the current challenging times.
Business certainty is a state we’d like to attain, but in 2020 uncertainty reigns: it is a matter of dealing with change or dealing with crisis.
It’s not a simple case of just being in one state or another either – you can be heading out of one and into the other.
There is no smooth sailing anymore and long term strategising is no longer the go to planning tool.
The business question for a CEO to ask now is: “what must be done on an ongoing basis to navigate the channels of opportunity, risk, crisis and change for the business to survive and thrive”.
Every day an SME’s CEO has to deal with:
- Cash flow and liquidity demands;
- Time, people and budget constraints;
- increasing complexity of regulatory requirements;
- Ongoing alignment of business model to market forces;
- Unforeseeable threats like Covid 19.
Immediate access to either holistic or niche advice is critical. In a complex world no one person can fully advise anymore; you need ‘on tap’ access to a multi competent team focused on (a) insightful understanding of you and your business situation and (b) responsive and timely execution of value add-ons, crisis solutions and future proofing.
The Moore approach is geared to be immediately accessible and responsive to matters:
- Understand where you are now with a detailed fact finding exercise;
- Carry out financial modelling of various scenarios;
- Prioritise the action points that are necessary to move forward; and
- Assist with the implementation of these changes.
Typically in times like this solutions involve:
- For some an injection of new finance.
- A very efficient and binding restructuring option in the form of a scheme of arrangement with creditors which is less complex and less costly than Examinership.
Over the past 5 years Moore has built this multi-disciplined approach. We have worked hand in hand with our clients focussing initially on recovery, then on growth and protection, and now we are back at the recovery stage again with some.
Our key competence is agility. We have dedicated personnel across the corporate finance, tax, banking and recovery disciplines who regularly work together on bespoke client plans and problems. We are always focused on improving the client position. Usually it is a combination of approach and expertise across some or all of these disciplines which are brought to bear on each client’s unique set of circumstances to execute unique solutions.
Our track record is proven across hospitality, property, manufacturing, retail, marine and professional sectors.
Moore dealt with legacy creditor issue via scheme of arrangement over 3 years (60% write down of debts) involving a hive down of the business into a NewCo and arranged fresh bank funding.
Moore right sized debt overhang through a settlement with loan owner; put new long term finance in place with pillar bank; examined the business model to deal with peak cash requirement, and restructured the companies for efficiency in terms of tax planning and liquidity.
Moore carried out an emergency restructure via Examinership of a company following unexpected funding hiatus; agreed a scheme of arrangement with shareholders and creditors; sought and received support from the Bank and worked with the company to position it for long term resilience.
In each of these cases the businesses are now performing profitably and have withstood impacts of Covid 19, with further support from Moore where necessary.
Moore are match ready for any situation with the right team of professionals. If you feel your business can benefit from extra support then are dedicated team stand ready to assist you. Please feel free to contact us to discuss your business’s circumstances and what we might be able to achieve together.
