Manufacturing-Regional Victoria-Lender negotiation - covenant breach
A manufacturing business. Thirty-one years old. Built by a husband and wife from a single workshop. By the time they called us, the bank had appointed an investigating accountant and was three weeks from enforcing its security.
The situation
The covenant breach had come from a single bad year - a major customer had failed, taking six months of receivables with them. The underlying business was sound. The equipment was paid off. The workforce was experienced and loyal. None of that was visible in the numbers the bank was looking at.
What we did
We prepared an independent business review that told the real story - not just the covenant breach, but the 30-year track record, the customer concentration risk that had now been addressed, and a credible 18-month recovery plan. We sat across the table from the bank's credit team and made the case.
The outcome
The bank agreed to a consensual restructure. Enforcement was withdrawn. The debt was extended over a revised term. The business is still operating today.
Thirty-one years. The bank was three weeks away. Sometimes the most important thing we do is simply show up and say: there is another way.
Retail-Southeast Queensland-Safe harbour - tax office exposure
A specialty retailer. Fifteen stores. The director had expanded too fast and a downturn in consumer spending had caught her mid-rollout. By the time she called, she had six months of tax office arrears and personal guarantees across four leases. She hadn't slept properly in months.
The situation
The tax office letters were the worst of it - not because of the amounts, but because of what they implied. Director Penalty Notices were imminent. Her accountant had told her to consider voluntary administration. She didn't know there was a middle path.
What we did
We established a Safe Harbour process immediately, which stopped the personal liability clock. We rationalised the store network from fifteen to nine, exiting the underperforming leases through negotiated surrenders. We engaged the tax office directly and negotiated a payment arrangement over 24 months.
The outcome
The director's personal exposure was contained. The tax office arrangement was accepted. The nine remaining stores returned to profitability within eight months.
She called us three months after we finished. She said the first thing she noticed when the tax office arrangement was confirmed was that she slept through the night. She hadn't done that in six months.
Healthcare-Regional New South Wales-Balance sheet restructure - essential services
A regional healthcare provider. Over 200 employees. The board had been told by their accountants to prepare for voluntary administration. The directors were personally exposed and the prospect of losing the service - the only one of its kind in the region - was devastating.
The situation
The problem was structural, not operational. The business had been over-leveraged at inception and a reduction in government funding had removed the margin that was servicing the debt. The clinical operations were well-run. The staff were committed. The community needed it.
What we did
We identified that the core business was viable and built the case around that. We negotiated directly with the lender to restructure the debt to a level the business could sustain. We ran a Safe Harbour process to protect the directors while the restructure was implemented. We also identified additional funding pathways the board hadn't been aware of.
The outcome
Voluntary administration was avoided. The debt was restructured. Additional funding was secured. The business continues to operate and provide essential services to its community.
The director called us three months after we finished. He said the hardest thing he ever did was pick up the phone. The second hardest was not picking it up sooner.
Technology-Melbourne-Creditor management - growth business
A SaaS business. Strong product. Real market. The director had invested everything into building it - his savings, two years of deferred salary, and a line of credit that had grown larger than he'd intended. Revenue was growing but not fast enough. Creditors were losing patience.
The situation
The business had genuine value. The problem was timing - the revenue curve was real but it needed another 12 months to catch the debt. The director had been advised to consider a trade sale at a fraction of what the business would be worth in a year. He wasn't ready to accept that.
What we did
We developed a creditor management strategy and engaged with each creditor individually - not to delay, but to demonstrate the trajectory and make a credible case for extended terms. We worked with the director to sharpen the sales strategy and accelerate the revenue curve.
The outcome
Extended payment terms were agreed with all major creditors. The sales strategy delivered a strong pipeline. Within 12 months the business was cashflow positive and the debt had been reduced to a sustainable level. The director retained full ownership.
Two years earlier he had been ready to hand the keys to a trade buyer for a fraction of what the business was worth. Today he runs a profitable company he built from scratch. That is what breathing room can do.
Property & Construction-Western Australia-Divestment management - portfolio realisation
A property developer with a portfolio of stalled projects. Funding had dried up mid-development. Lenders were pressing. The directors needed to realise value from the portfolio to repay debt - but they needed someone to manage the process so they didn't leave money on the table under pressure.
The situation
Distressed asset sales done badly destroy value quickly. Buyers read the pressure and discount accordingly. The directors needed a managed process that signalled control, not desperation - even when the timeline was tight.
What we did
We assessed the portfolio and developed a sequenced divestment strategy - prioritising the assets with the strongest realisable value and managing the market presentation carefully. We ran the sale processes, prepared the information materials, identified buyers, and negotiated the terms.
The outcome
The portfolio was divested in a managed process. Lender debt was repaid in full. The directors exited with their personal finances intact.
Not every story ends with the business surviving. Sometimes the best outcome is a clean exit with dignity intact. This director walked away with his finances whole and his head held high. That matters.
Not-for-Profit-Victoria-Contract remediation - community services
A not-for-profit community services organisation. The loss of a major government contract had created a funding gap the board hadn't anticipated. Fixed costs were high. Reserves were thin. The board was under pressure from funders and struggling to manage the situation while keeping services running.
The situation
The hardest part, the chair told us, wasn't the money. It was watching the team lose faith. Staff were leaving. Volunteers were disengaging. The mission was intact but the organisation was losing the people who carried it.
What we did
We stabilised the financial position first - a short-term cashflow plan that bought the board time to think clearly. Then we worked with them on the longer-term picture: renegotiating existing contracts on improved terms, identifying new funding streams, and managing communications with government stakeholders.
The outcome
The financial position was stabilised. Key contracts were renegotiated. New funding was secured. The organisation continues to operate today with a stronger foundation and expanded community impact.
The chair said getting the team's confidence back was worth more than any contract. When the organisation stopped looking like it was in crisis, people stopped leaving.