There is a desire to exit an underperforming or non-core business unit or subsidiary.
Management may lack experience dealing with business closures and requires support and assistance with closure or downsizing initiatives.
How we can help
We bring hands-on experience in winding up and closing businesses to help you assess, develop and implement a closure plan. Our business closure and downsizing services include:
Evaluation of the merits and risks of available options, including turnaround, sale and managed closure
Assistance in formulating an exit strategy and developing a closure plan considering, among other things, contractual commitments, commercial consequences, operational risks and overall financial impact, including exit costs
Project management of the closure plan, including advice on negotiating contract termination settlements, managing activity levels to reduce costs, advice on employee consultation and redundancy programs, sale of residual assets, mitigation of contingent liabilities and monitoring of performance against key milestones
Assistance in finalizing accounting and tax issues
The potential benefits
The turnaround or exit of underperforming or non-core businesses can reduce the strain on your company’s resources and improve overall financial performance.
Outsourcing the project management of the closure process allows management to focus on its core business and strategy.