SMALL BUSINESS RESTRUCTURING
A NEW, FLEXIBLE SOLUTION FOR BUSINESS OWNERS
Australia’s insolvency framework for small business has changed — providing a far more flexible way out of financial distress.
The new, small business restructuring process allows eligible businesses to restructure their operations, while maintaining control.
Wexted will act as your restructuring partner, working with you to develop a bespoke and effective plan. Together, we can navigate the short-term uncertainty, and move towards recovery.
We recognise the pressures and strains small businesses feel during periods of financial distress. That’s why we’re always on hand to provide clarity, solutions and understanding.
SMALL BUSINESS RESTRUCTURING EXPLAINED
Under the Corporations Act 2001, a company can now restructure their operations and debts with the support of a restructuring partner.
Crucially, businesses retain control while the restructuring plan is being developed. This is a much-needed alternative to previous scenarios — including insolvency and voluntary administration — as it encourages businesses to seek support far earlier, greatly increasing the chances of a successful turnaround.
As your restructuring partner, Wexted will work with you to reduce debt, renegotiate payment terms and improve cash flow, while managing communication with creditors.
For a business to be eligible, debts must be under AUD $1million.
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