Coronavirus – Kreston Reeves supporting you in unprecedented times

Published by Andrew Tate  on 17 March 2020

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We are living in unprecedented times and are all affected personally and/or as businesses by the worldwide measures being taken to contain COVID 19.

At Kreston Reeves we are taking our own measures to protect our own people – we are here to support our clients too.

Businesses are facing huge disruption on a practical level and financial pressure is also building. Regrettably this is set to continue. Certain sectors are feeling the immediate pressure from consumers having to change their spending plans and this will have a domino effect in all supply chains.

Banks and HMRC are being encouraged by government to support businesses, however, businesses facing cashflow difficulties (from reduced demand or customers being unable to pay) may find that the relationship with banks and creditors needs careful handling.

Our Restructuring team is experienced in supporting businesses facing challenges and we are here to support our clients, for example:

  • to discuss or review measures taken to cut costs
  • assistance with decision making
  • assistance with financial modelling to provide visibility of the implications of these changes
  • advice on solvency and turnaround issues
  • advice on directors’ duties in these difficult times

Our personal clients are also going to be affected by the economic disruption and our wealth management team is already assisting clients to respond appropriately in the current environment. If clients are facing personal financial challenges we will be happy to discuss these.

Our restructuring team is led by Andrew Tate, James Hopkirk and Gemma Harris and they are ready to assist any of our clients who may need our help.

If you are at all worried and would like to speak to one of our professionals please call your usual contact at Kreston Reeves or call our Restructuring team on 0330 124 1399.

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