Knowledge Peers

David Graham, Partner at RIVO Partners Company Turnarounds, talks about the operational side of a successful business turnaround of a £100 million wholesale company.

In this interview David covers:

• The financial status of the company
• Reconciling and fixing the operational realities of the company to improve cash flow
• Ensuring your board can communicate and be pro-active.

RAP Group plc was an LSE-listed, struggling, DIY products business. Andy Makeham led the buyout of Kewill's UK software business, creating K3, and reversed it into RAP. K3 sold off RAP's businesses and the new operation became Microsoft's biggest UK partner in solutions for retail and manufacturing operations.

K3 is growing, profitable and seeking further acquisitions. However in hindsight, Andy Makeham thinks that IPO-ing K3 would have been more effective than reversing into an existing...

Nick Winton was brought in as an outsider to turn around and manage a family business in distress. In this interview Nick talks about why the business was not performing and what he did to recover it.

When Richard Turner was brought in to run Clearswift in mid 2008, the company (with a £25m turnover in security software), was loss making and heavily in debt. The credit crunch meant that the necessity of reducing over £4m of debt could only be achieved through improved management and focused cost cutting. This involved finding the right mix of cost cutting to preserve cash.

Clearswift is on track to clearing all debt by the end of 2009, and moving into a positive EBITDA.

Sandy Khanna, a partner in IBM’s Managed Business Process Solutions team, discusses how and why a business might outsource its accounts receivable function to a third party.

In this interview Sandy covers:

• Ways in which a external provider might improve the performance of accounts receivable
• The practical implications and costs involved in outsourcing this business function

Moray Reid, who leads IBM’s Managed Business Process Solutions in the supply chain area, discusses how and why a business might outsource its procurement function (or parts of it) to a third party.

In this interview Moray covers:

• Aspects of procurement that it is possible to outsource
• Ways in which a external provider might reduce direct and indirect procurement costs
• The practical implications and costs involved in outsourcing this business function.

John Summerhill is managing director of European Design Centre, a luxury market furniture retailer. He has owned and run businesses during three recessions.

In this interview John discusses:

• EDC’s challenges due to the recession: maintaining volumes and margins
• Running the business during a recession: maintaining confidence and maintaining the right team
• Working capital issues: why cash is king; being tough on credit management
• Utilising the Government’s ‘small bu...

John Summerhill is managing director of European Design Centre, a luxury top market furniture retailer. He has owned and run businesses during three recessions.

In this interview John gives tips and advice on what owners should do during a recession:

• having confidence in what you’re doing
• the importance of maintaining cash
• aim to increase volumes because margins will inevitably suffer
• why trimming staff levels is not necessarily the right response

Chris Dines is CEO and co-founder of Knowledge Peers and has wide experience of running medium sized businesses, not least through previous downturns.

In this interview Chris provides an introduction to the Knowledge Peers Guide to Directors’ Responsibilities during a downturn.

Michael Potts is a partner at law firm Byrne and Partners, a litigation law firm specializing in civil fraud and criminal investigations and prosecutions. Michael is a corporate fraud and regulatory expert.

In this interview Michael discusses:

• What public interest whistle blowing is
• The types of malpractices that are covered by the law on whistle-blowing
• What employees who are considering making a disclosure of malpractice need to know
• Why all employers need an eff...

Michael Potts is a partner at law firm Byrne and Partners, a litigation law firm specializing in civil fraud and criminal investigations and prosecutions. Michael is a corporate fraud and regulatory expert.

In this interview Michael discusses:

• The bodies involved in external investigations of corporate malpractice
• Reasons why a company might be investigated
• How companies should deal with malpractice that is disclosed as a result of whistle-blowing

Michael Potts is a partner at law firm Byrne and Partners, a litigation law firm specializing in civil fraud and criminal investigations and prosecutions. Michael is a corporate fraud and regulatory expert.

In this interview Michael covers:

• Byrne and Partners company profile
• His role at Byrne and Partners

Neishaa Gharat, founder of Karma Ventures, talks about:

• The importance of good communication during the downturn.

Kesh Morjaria, prior to founding thebestof Brent, was the owner of a chain of photo shops that he successfully sold to one of the major high street brands.

In this interview Kesh talks about his experience during the last recession when his bank pulled his facilities. He explains what he did to turn the business around, pay back his debts and eventually sell the business.

Victoria Leigh is a lawyer who specialises in commercial matters and dispute resolution. Here Victoria looks at the issue unauthorised use of company information by ex employees, covering:

• What you should do first, if you believe an ex employee has removed commercially sensitive information
• The initial steps you can take to protect your company, and the evidence you should look for
• Preventing potential loss and damage
• When loss or damages occur, how to seek recompense

Roger Wilson, Chairman of Adept Telecom, discusses what boards should watch out for and the actions that they should take in a downturn.

In this interview Roger covers:

● the characteristics of a board which can cope with a downturn
● the early warning signs that the NEDs should look out for
● the actions the board should take if business is deteriorating.

On 2nd March 2009, a group of 125 business leaders from the UK growth sector gathered in the Cabinet War Rooms to debate the big question of the day: Is it really possible to respond positively to the downturn, or should managers retreat to their bunkers to sit it out? Aided by panellists Nick Leon, Mike Kirkham, Lisa Porter, Ian Jindal and chair Chris Dines, the group concluded … (click through to read the full report)

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Introduction - the 6 M's Wrong Ma...

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Introduction - the 6 M's

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Introduction - the 6 M's Wrong Ma...

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Introduction - the 6 M's Wrong Ma...

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Introduction - the 6 M's Wrong Ma...

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Introduction - the 6 M's Wrong Ma...

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Introduction - the 6 M's Wrong Ma...

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Why buy a football club? The diff...

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Why buy a football club? The diff...

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Why buy a football club? The diff...

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What do directors need to know? C...

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What do directors need to know? C...

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An introduction CEOs in denial

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An introduction CEOs in denial

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An introduction CEOs in denial

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An introduction CEOs in denial

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An introduction CEOs in denial

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An introduction CEOs in denial

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Who decides when a company goes into administration?

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Who decides when a company goes into administration?

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Who decides when a company goes into administration?

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Who decides when a company goes into administration?

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Who decides when a company goes into administration?

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Who decides when a company goes into administration?

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Who decides when a company goes into administration?

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When a customer saves the business

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When a customer saves the business

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When a customer saves the business

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When a customer saves the business

In this audio podcast Nick Winton managed a technology business which went into administration during the last recession. In this interview Nick reflects on that experience and draws conclusions about what he should have done differently.

In this audio podcast Nick Winton was brought in as an outsider to turn around and manage a family business in distress. In this interview Nick talks about why the business was not performing and what he did to recover it.

In this audio podcast: When Richard Turner was brought in to run Clearswift in mid 2008, the company (with a £25m turnover in security software), was loss making and heavily in debt. The credit crunch meant that the necessity of reducing over £4m of debt could only be achieved through improved management and focused cost cutting. This involved finding the right mix of cost cutting to preserve cash.

Clearswift is on track to clearing all debt by the end of 2009, and moving into a positive ...

David Hole, CEO of Greenfield restructuring services, discusses a recent project in which he was brought in to a company struggling, in particular, with management of its financial affairs. In this interview he outlines the situation he was brought into and how he sought to make changes within the company.

This video forms part of a series:

Antony Fanshawe, a Partner with Begbies Traynor, advises firms who employ an insolvency practitioner on what to expect. Drawing on his many years of experience as a practitioner, Antony outlines the steps which firms can take to turn themselves around. Questions covered are:

When should an insolvency practitioner be brought in?
Whom does the practitioner represent?
What are the duties of a director in such a situation?

David Hole, CEO of Greenfield restructuring services, discusses a recent project in which he was brought in to a company struggling, in particular, with management of its financial affairs. In this interview he talks about how he began pinpointing issues to address within the company.

This video forms part of a series:

David Hole, CEO of Greenfield restructuring services, discusses a recent project in which he was brought in to a company struggling, in particular, with management of its financial affairs. In this interview he talks about initiating changes to the firm he was brought into.

This video forms part of a series:

Part 1...

David Hole, CEO of Greenfield restructuring services, discusses a recent project in which he was brought in to a company struggling, in particular, with management of its financial affairs. In this interview he offers advice to directors regarding their responsibilities and how best to seek help from an insolvency practitioner.

This video forms part of a series:

Paul is a partner in the corporate department at Fox Williams solicitors and advises clients on a broad range of business areas including mergers and acquisitions, joint ventures, private equity, banking and insolvency.

Paul Taylor looks at the issue of preferential trading prior to insolvency, covering:

• The legal position
• The obligation to avoid transactions at undervalue
• The need to avoid unusual dealings with related parties

Paul is a partner in the corporate department at Fox Williams solicitors and advises clients on a broad range of business areas including mergers and acquisitions, joint ventures, private equity, banking and insolvency.

Here Paul looks at:

• The role of the liquidator
• The potential liabilities for individual directors
• Penalties
• How often actions are brought

Paul is a partner in the corporate department at Fox Williams solicitors and advises clients on a broad range of business areas including mergers and acquisitions, joint ventures, private equity, banking and insolvency. Here Paul looks at:

Paul Taylor looks at:

• The legal definition of wrongful trading
• In practical terms, what indicates wrongful trading

Paul is a partner in the corporate department at Fox Williams solicitors and advises clients on a broad range of business areas including mergers and acquisitions, joint ventures, private equity, banking and insolvency.

Paul Taylor looks at the issue of personal guarantees signed by a director, covering:

• What personal guarantees are and who asks for them
• When they can be invoked
• How to limit personal exposure in relation to a guarantee that is called on

Paul is a partner in the corporate department at Fox Williams solicitors and advises clients on a broad range of business areas including mergers and acquisitions, joint ventures, private equity, banking and insolvency.

Paul Taylor looks at how a director’s responsibilities change a company moves from being a going concern to an insolvent position. He covers:

• How an individual director and board should amend behavior
• How responsibilities to creditors changes
• Whether or...

Paul is a partner in the corporate department at Fox Williams solicitors and advises clients on a broad range of business areas including mergers and acquisitions, joint ventures, private equity, banking and insolvency.

Here Paul looks at:

• The facts that might reflect that a company had clearly become insolvent
• How the Board and individual directors have behaved

Paul Taylor, Partner of Fox Williams LLP, talks about the personal responsibility of a director facing a financial crisis and possible corporate insolvency.

In this interview Paul explains:

● the extent of the director's personal liability and responsibility
● initial moves when faced with a financial crisis
● the ramifications of wrongful trading.

Paul Taylor, Partner of Fox Williams LLP, talks about the options for a company in financial distress.

In this interview Paul highlights:

● the routes for a company in financial distress
● the first steps for companies that can be saved
● the differences between a CVA and an administrative receivership
● the meaning of liquidation.

Nick Winton managed a technology business which went into administration during the last recession. In this interview Nick reflects on that experience and draws conclusions about what he should have done differently.

Andy Hogarth, executive Chairman and CEO of Staffline and non-executive Chairman of Carnell, discusses how they dealt with the downturn through an efficiency drive and changing of staff mix.

David Foster is an experienced business turnaround practitioner. In this interview, he describes his work with a firm in serious financial difficulties as a result of losing its only wholesale customer. The turnaround plan involved a big change in distribution strategy, which necessitated a brand new approach to sales and marketing. In this interview, David describes how this was put in place.

Helen Marini, senior partner at Westminster Compliance, highlights the key aspects of successful tenders for public sector contracts.

"... your only chance of portraying a good image of your company is by what you write."

Nigel Lack, senior partner at Westminster Compliance, outlines how you should go about looking for public sector contracts.

In this interview Nigel covers:

• The benefits of public sector contracts
• How to maximise your chances of winning these contracts
• Accessibility of public sector contracts for SMEs.

"... on average these contracts last 3 to 5 years and can be a guaranteed source of income."

Mark Perl is Director of The Guru Garage, a company that trains professionals how to network in a confident and effective manner.

In this interview Mark talks about the importance of networking during an economic downturn, and how business leaders can improve their networking skills.

Nick Leon is director of Design London, an international centre of excellence for design-led innovation.

In this interview, Nick discusses how smaller businesses can respond to the economic downturn by taking advantage of their greater flexibility to innovate.

Nigel Lack is a senior partner at Westminster Compliance, a company that works with organisations to keep their employees and clients safe, and to help businesses grow.

In this interview Nigel talks about how smaller businesses can get involved with competing for public sector contracts.

Carl Thompson is a chief financial officer at Hexagon Human Capital, a company specialising in providing leadership and senior management talent through senor interim management and executive search.

In this interview Cark discusses how Hexagon Human Capital is responding positively to the economic downturn.