Viewpoints was founded in 1996 by John Dockerill who, having been an MD in a large international corporation, and led a £6m management buy out in the early ‘90’s, understood how lonely it can be to run a company and be responsible to shareholders for the company’s success.
He saw a need for a service for md’s and owner/ managers to which they could turn for independent, honest, unbiased, and objective opinions and help, specifically in recovery situations
Company Recovery
When an owner/md is in the process of forming his business plan he may just want a ‘second opinion’ to confirm its viability, or hear modifications which might improve the plan. Or he may just want to bounce crazy ideas off someone independent who will give him a truthful opinion
New capital may be needed, and new investors, banks or partners approached. There may be difficult board changes that need to be made, and new directors recruited. A difficult cost reduction plan could be necessary.
In all of these areas Viewpoints’ experience can be used to help, with the advantage that anonymity can be maintained if necessary.
Dealing with financial crisis
If the situation is developing into a financial crisis, perhaps when the bank is being less than helpful, there are wages to pay and HMRC and other creditors are at your door, Viewpoints has seen it all many times before and can suggest unbiased solutions.
When time is short Viewpoints can act as intermediary between the company and its creditors in an objective and un-emotional way to persuade them towards a solution.
Viewpoints has worked with many of the major banks and insolvency practitioners and there is always a way through, from formal insolvency procedures to ‘white knights’, business angels, pre-packs or management buy outs.
Viewpoints has the experience
Just look at the Case Study pages of this web site to see the variety and the Services page to see the many ways Viewpoints can help
A major London based scaffolding company, with sales of £4m and 50 staff
At the beginning of the ‘credit crunch’ the bank withdraw with no notice the company’s £500K overdraft facility. The company’s auditors were asked for help and advice, part of which was to recommend Viewpoints in an NED role to produce and implement a rescue plan.
As the major creditor, we attempted to persuade HMRC to accept a company voluntary arrangement, which they rejected despite a 60 % dividend.
As the only alternative, we implemented a ‘pre pack’ by appointing an insolvency practice as adminstrator. We financed this by negotiating with the practice a fair price and extended payment terms, and factoring the sales ledger as a means of providing working capital.
In order to ensure ‘Newco’s’ profitability, a cost reduction plan was implemented