Wind Down and Closure
Advice to organisations on strategies when a subsidiary, division, product, site or business in its entirety is to be wound down and closed.
With careful planning many of the common pitfalls can be avoided, costs reduced and residual value optimised; however, to achieve this there is no substitute for experience.
What we do
We advise organisations on strategies when a subsidiary, division, product, site or business in its entirety is to be wound down and closed.
We work co-operatively with management and other stakeholders to evaluate the closure of underperforming companies or business divisions.
We can review the closure options, devise a withdrawal strategy and plan and manage the implementation.
Our services provide an efficient strategy that does not jeopardise reputation or stakeholder relationships, and at the same time allows management to focus on their remaining core businesses.
How we can help
We provide a comprehensive solution which:
- Minimises risk;
- Injects pace;
- Optimises management focus;
- Provides easy access to specialists;
- Brings an objective perspective;
- Maximises residual value.
The team provides a strong blend of practical, commercial, operational and financial skills as well as offering full project management and implementation of our plans. We liaise with the firm's specialists in functional areas as required.
Exit plans implemented saving £2.3m versus company’s original plan
- International Investment Bank wished to exit its UK business;
- Exit options were evaluated, a plan developed and stakeholder approval gained;
- Staff, service and property wind-down plans developed;
- First wave of redundancies made;
- Retention plan established.
Planning for dissolution after the 2012 Olympic and Paralympic Games
- Providing specialist advice in how to plan for an orderly wind down and subsequent MVL post-Games;
- Working closely with LOCOG to develop functional dissolution plans;
- Identified potential pitfalls and influenced business as usual activity to avoid them;
- Identifying, documenting and mitigating potential dissolution risks.
Factory closure costs £60m less than company estimates
- Japanese owners decided to transfer production to Romania;
- Closure cost estimated at £60m, due mainly to a huge £35m pension fund deficiency;
- Company closed for £0m;
- We produced a 30 day closure plan to realise £10m of stock;
- Negotiated with the Pension Trustees to agree to a £9m settlement by threatening insolvency.