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Tough Times Ahead

Kathryn Hiddleston Tax Partner Rescue Reorganisation and Insolvency and John Hinton Tax Associate Director Grant Thornton UK LLP consider options available to owner-managed businesses
The wave of negative economic news has forced businesses to face up to some harsh realities and difficult decisions. This is thrown into particularly sharp emotional focus for many of the owner-managed businesses (OMBs) weathering the downturn. Entrepreneurs who have devoted a lifetime to building up a business from scratch and the custodians of family businesses passed down through generations are often now struggling with onerous debt burdens declining margins and uncertain cash flows.
Time to Make Savings
Several options are available to OMBs to...

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