SUCCESS STORY
Bricklaying Business Debt Restructure
Bricklaying / Construction
about the client
“The underlying business was strong. By restructuring the debt around what the business could genuinely afford, $585,000 of debt was eliminated while giving the business the opportunity to keep trading.”
what their challenges were
By the time the client approached Actium Partners, business debt had reached more than $705,000. The debt had accumulated over a number of years until the existing obligations were no longer realistically serviceable.
Despite the financial pressure, the underlying business remained viable. It had good margins, steady clients and an established operation worth protecting. The challenge was finding a realistic way to address the accumulated debt without compromising the future of the business.
The client needed more than another payment plan. They needed a bricklaying business restructure that addressed the accumulated debt while giving the underlying business an opportunity to continue trading.
how actium partners helped
Actium Partners began with a detailed assessment of the client’s financial position. Our review confirmed that while the accumulated debt was unsustainable, the underlying business remained commercially viable.
We rebuilt the accounts to the standard required for a Small Business Restructure, established what the business could genuinely afford to pay while continuing to operate, and developed a specialised business debt restructuring proposal around that capacity. Working with the appointed Small Business Restructuring Practitioner, the proposal was then presented to creditors.
Throughout the bricklaying business restructure, we explained the client’s position, available options and each stage of the process in clear, straightforward language.
So, before their restructure, our client had:
- over $705,000 in business debt
- no viable path to repay the full amount
- significant financial pressure
- a viable underlying business at risk
After the restructure, they now have:
- debt reduced to $120,000
- approximately $585,000 in debt eliminated
- a creditor-approved restructuring plan
- a business able to continue trading
Overall results
Debt reduction – $585,000
