That’s the view of Christine Convy, the founder of Dundee, Fife and Glasgow-based restructuring specialist Dunedin Advisory. She said the lack of a restructuring culture in Scotland means many firms are unaware of tools that could put their business on a surer footing.
Using existing legislation with the use of a Company Voluntary Arrangement (CVA) and the provisions within the new restructuring bill currently being considered by parliament, may be more readily used as a mechanism to formalise restructuring plans.
This week Christine Convy, Director of Dunedin Advisory specialists in restructuring and recovery of businesses presented a webinar to company delegates discussing “Surviving Covid-19” in collaboration with Business Gateway Fife.
As the Covid lockdown continues giving many businesses restricted or no option to trade, Angela Paterson, Associate Director of Dunedin Advisory highlights a potential lifeline to consider – a CVA.