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ICAEW
RESTRUCTURING AND
INSOLVENCY GUIDE
Why early action is the key
to avoiding or surviving
financial difficulties
ICAEW.COM
2
RESTRUCTURING AND INSOLVENCY GUIDE
Contents
Stage 1
GROWTH
page 6
Stage 2
UNDERPERFORMANCE
page 7
Stage 3
DISTRESS
page 8
Liquidity
Growth
Stage 4
CRISIS
page 10
Insolvency
Stage 7
RECOVERY
page 14
Stage 6
STABILISATION
page 13
Stage 5
CRISIS MANAGEMENT
page 12
Recovery
Time
© ICAEW 2017. ALL RIGHTS RESERVED. IF YOU WANT TO REPRODUCE OR REDISTRIBUTE ANY OF THE MATERIAL IN THIS PUBLICATION,
YOU SHOULD FIRST GET ICAEW'S PERMISSION IN WRITING. ICAEW WILL NOT BE LIABLE FOR ANY RELIANCE YOU PLACE ON THE
INFORMATION IN THIS MATERIAL. YOU SHOULD SEEK INDEPENDENT ADVICE.
3
Int
ICAEW RESTRUCTURING AND INSOLVENCY GUIDE
2
RESTRUCTURING AND INSOLVENCY GUIDE Contents
Introduction Most people launching a new business
RESTRUCTURING AND INSOLVENCY GUIDE INSOLVENCY
1. Growth It may seem counterintuitive to think a
RESTRUCTURING AND INSOLVENCY GUIDE 2. Underp
3. Distress If no remedial action is taken, an un
RESTRUCTURING AND INSOLVENCY GUIDE SIX SIGNS
4. Crisis While the word crisis is somewhat overu
RESTRUCTURING AND INSOLVENCY GUIDE CORPORATE
5. Crisis management There are usually several ro
RESTRUCTURING AND INSOLVENCY GUIDE 6. Stabil
7. Recovery Is there a better feeling for a busin
RESTRUCTURING AND INSOLVENCY GUIDE FURTHER IN
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