What was the situation? 

Our client is one of Australia’s leading food processing companies with annual turnover of $90m and over 100 employees.

Our client had experienced significant losses over the last two years because of Covid-19 and difficult trading conditions in its industry sector. As a result, the company required urgent working capital to meet upcoming financial commitments because it had been unsuccessful in a historical loan submission with a major Australian bank.

What did we do?

Charles & Co discussed the financial and operational situation with management and acted swiftly to create a turnaround roadmap which included completing three-way forecasts, implementing enhanced internal controls and collaborating in regular divisional meetings with key personnel.

Once our client’s situation improved, we worked with management to identify the company’s finance needs along with determining potential sources of funding. Following which, we negotiated on behalf of our client with potential funding partners.

What was the outcome?

Our client secured a finance facility from a major Australian lender at competitive interest rates, which in turn fully addressed the company’s immediate working capital and future CAPEX requirements to support the company’s growth prospects. Our client’s management team is now interacting effectively and is on track to return to profitability as we continue to provide ongoing management advisory services.

How can Charles & Co. help?

Our Team with more than 50 years combined experience is well placed to help businesses in a range of challenging  and distressed situations. We encourage anyone experiencing financial and/or operational distress to contact us to discuss your options.