Richter > My business is in distress. What’s my next move?

My business is in distress. What’s my next move?

Quote of the day
" When your day is spent managing the balance sheet, not strategy and marketplace, you are playing the wrong game of chess. "
Paul van Eyk CPA, CA-IFA, CIRP, LIT, Fellow of INSOL
Partner

Your goal

You’ve come to a point where ‘business as usual’ is no longer an option. It is unclear what your next move should be or just how you’re going to make it through the next payment cycle, let alone see the next quarter. What’s your next step? How will you manage this crisis?

When it comes to a business in distress, as tempting as it may be to ignore, the problem won’t fix itself.

Whether the solution calls for an informal restructuring or an assignment in bankruptcy, a formal restructuring under the Companies’ Creditors Arrangement Act, or a proposal under the Bankruptcy and Insolvency Act, we get to know the business and its challenges, and help put things into perspective. We assess and identify the options and guide you to the optimal solution in an objective and professional manner.

 

How we can help

We grasp the seriousness of your situation and try to resolve it in the most beneficial and least disruptive way. This may involve raising new capital, disposition of surplus assets, negotiations with secured and unsecured creditors, unions or other important stakeholders. Our professionals regularly appear before the courts in connection with and in support of restructuring proceedings. As court officers, we act objectively through all facets of the restructuring. Our team can assist with:

  • Cash flow
  • Liquidity crisis
  • Crisis management
  • Devising, implementing communication programs
  • Assistance in dealing with various stakeholders.

Our professionals have handled some of the most complex restructurings in Canada. No matter the situation, there is a solution. We’re here to help you find it.

Meet our experts

The people behind the expertise.

Julien Finucan

CPA, CA, CTA, CFE
Thoughtful and calm, Julien applies his expertise and resourceful thinking to complex engagements.

Daniel Tannenbaum

CPA, CA
No matter how complex a situation, Daniel always brings a rational and innovative approach, delivered with a balanced and confident demeanor.

Gilles Benchaya

CPA, CA, CIRP, LIT, CTP
Gilles has focused on the retail, consumer goods, distribution and service sectors for the past 20 years.

Eric Barbieri

CPA, CA, CTP, CIRP, LIT
Eric is a seasoned advisory professional with 20 years of experience in transaction advisory and corporate reorganizations.

Morrie Rutman

CPA
Morrie works closely with companies, their lenders and other stakeholders, in assessing the feasibility of strategic plans, ranging from turnaround scenarios to capital expenditure programs.

Howard Gross

CPA, CA, CBV
Howard is an innovator, whose expertise and perceptiveness make him exceptional at what he does.

Adam Sherman

MBA, CIRP, LIT
A skillful  assessor of business plans, financial projections, cash flow forecasts and turnaround plans, Adam brings a well-rounded and hands-on approach to his clients.

Paul van Eyk

CPA, CA-IFA, CIRP, LIT, Fellow of INSOL
Paul takes a fair and dedicated approach to helping his clients with their complex business challenges, while always trying to find the positive side of any issue.

Gilles Robillard

CPA, CA, CIRP, LIT
With more than 30 years of experience as an advisor, Gilles has seen the business community evolve greatly.

Andrew Adessky

CPA, CA, MBA, CIRP, LIT
Andrew works closely with management, secured creditors, creditors’ committees and other professionals in addressing complex financial restructuring issues.

Benoît Gingues

CPA, CA, CIRP, LIT
With more than 25 years’ experience advising organizations facing financial difficulties or special issues, Benoît has the expertise and open-mindedness required to handle complex issues.

Olivier Benchaya

CPA, CA, CIRP, LIT
With over 15 years’ experience, Olivier Benchaya is a partner in the Restructuring and Insolvency group of Richter.
Meet more experts