Businesses in trouble wait too long before going into business rescue. This creates more problems than it should.
- The longer a business waits to avoid the “disgrace”, the less likely it is to rescued
- A director who avoids the business rescue provisions, and then has his business liquidated, can be held personally liable for the claims of creditors.
Of course as they wait and wait and wait…. for that miracle… time based bills fall due and then over due. And then when it is too late, they do the business rescue thing.
Part of the problem is that banks have been spectacularly reluctant to think like they have moved into the 21st century with the rest of us (apart from providing some “mobile app”) and they steadfastly refuse to get involved in post rescue financing. I even had one bank renege on its agreement to keep existing financing in place because it later discovered that the main shareholder had stood surety in the deep dark past, and if the liquidator acted quickly… You can imagine.
Well now there are forward thinking people who are able to help with risk capital, in conjunction with the business rescue practitioner, particularly if a business is able to be rescued, jobs will be saved, and there is equity available for acquisition.
This is not primarily loan capital. It is particularly for the acquisition of part of the equity, plus some specialist knowledge in a variety of disciplines, plus some lending if necessary.
It is also necessary that the business is not only rescue-able, but is also able and willing to grow, so that the white knight gets a good return on his investment. Let me know if this is something you need to talk about. 011 875 2330.
How will this work..I need to re register with cipro also as I was going through a financial patch and didn’t pay them..trying to be a mobile shop so need to get thsi going as it seems to be a viable option as I have an art shop and need to go to the students..its working so far…makes for more sales.
How much does it cost to do all this.?
Thanks
Virginia Lazarus
0836473116
Hi Mark
We chatted a little while back about the possibility of financing my transport business, at the time I was pretty gung ho and had a new partner on board who was busy bringing in more business than we could handle. Well as it turns out I think I took my eye off the ball and he left me with a major cash flow problem as well as some nasty debt piles to clear up, while he packed his laptop and went back to his old job.
I now sit in the position you describe above wondering if business rescue or liquidation is the way to go and Im thinking about this all before I get the point where it is too late. Possibly you have the solution for me?
Regards
Andre van Huyssteen
Good morning, Mark
Called the number above a few times….line is engaged??
Need to speak with you about business rescue financing.
Is there another number I can get you on?
Otherwise, my cell is 072 405 9695.
Kind regards
Jihaad
Dear Mark, thank you for your note.Nylsoog Bosveldlandgoed was placed under BR by my request due to a legal cost escalating in a court case due to an unjustified veldfire claim by a neighbour. We built this wildlife estate from minus R11m to plus R126m in equity (verified),but remains in a cash flow trap.The BR plan has been accepted by the creditors and is in implementation.That is the very concise summarized background.
This is an investment opportunity with a very unique proclamation .
Can we talk.
Best wishes
Louw Du Toit
Chairman