Business recovery services

The PricewaterhouseCoopers Channel Islands firm works closely with The PricewaterhouseCoopers UK Business Recovery Services (BRS) practice, the largest and most successful in the world, providing advisory and insolvency services to lenders, creditors, companies and individuals in troubled financial situations.

Services we offer include turnaround implementation, financial, operational and strategic advice, optimised exit services, solvent reconstructions, real estate, insurance company run-off and liquidations.
The Channel Islands firm has particular expertise in financial, operational and strategic advice, solvent reconstructions and liquidations. We also provide specialist outsourcing services to the Viscount of Jersey (the equivalent of the Official Receiver in the UK) who deals with most bankruptcies on the island.

Our business recovery services

Financial restructuring 

For companies, their lenders, shareholders or other stakeholders in businesses facing financial under-performance or crisis, we deliver restructuring solutions and help build a platform for recovery.

PwC UK's restructuring practice has taken a lead advisory role on almost half of all major UK corporate restructurings, forming Europe's largest and most successful restructuring team. We can wherever necessary, combine our local experience and specialist industry knowledge with the expertise of the UK firm enabling us to tailor solutions to the individual circumstances and needs of our clients.

Potential issues

As a company director, lender or other financial stakeholder in a company, you are facing one or more of the following issues with the business:

  • Cash pressure or liquidity shortfall
  • Actual or potential breach of covenant
  • Pensions deficit
  • Credit ratings downgrade
  • Over leveraged
  • Debt trading at “distressed” levels
How we can support you
  • Recovery from crisis
  • Preserving the business, and/or management retaining control
  • For lender/creditor, maximising/realising value
  • Better understanding of the financial and commercial position of the business, its prospective viability and the range of restructuring options available
  • Solutions developed in partnership with creditors and debtors using our unrivalled experience in working through crises where objectives may diverge and there are severe pressures on relationships between company and stakeholder
  • The PwC global network has more than 1,000 partners and staff in 55 countries, bringing expertise in complex cross-border restructurings based on detailed local knowledge
  • Drawing on PwC's extensive industry experience to provide an unrivalled combination of restructuring and industry expertise

Corporate simplication / liquidations 

We provide corporate simplification services for organisations that need to save on operating costs and achieve a simplified more transparent corporate structure by eliminating inactive companies that have fulfilled their economic purpose.

We understand that there are circumstances which can render a group company whether registered in Jersey, Guernsey or another offshore jurisdiction, to become surplus to requirements. To maintain such companies in a position of good standing, annual disbursements and administration fees are unavoidable. A decision may therefore be made to liquidate such entities. Whilst the winding up processes are relatively straight forward they are based on legal requirements specific to the relevant jurisdiction and it is therefore necessary to have a thorough and up to date understanding of the principles involved. The PricewaterhouseCoopers Channel Islands firm has a dedicated specialist liquidations team with the necessary experience and expertise to ensure that all the current procedures are followed and timely dissolution is achieved.

We can tailor our involvement, both where a liquidator is to be appointed, and where the directors are to continue to act, to match your specific needs.


Potential issues
  • Are you wasting £4,000 to £6,000 per annum on each redundant entity that has no added value to your business?
  • Are you wasting senior management time on dealing with the corporate governance requirements related to inactive entities, when you could be spending your valuable time on live business issues?
  • You have large numbers of empty companies without apparent business purpose, which could be a concern to stakeholders and regulators
  • You need to simplify your corporate structure to release capital tied up in the business
How we can support you
  • Help eliminate recurring and wasted corporate governance expenditure
  • Free up senior management time spent dealing with corporate governance issues
  • Our technical excellence and proven project management methodology ensure a smooth process for your organisation through to conclusion
  • We can act as liquidator for companies established in many overseas jurisdictions and coordinate with our relevant PwC contacts in the onshore and overseas jurisdictions as required
PwC's corporate simplification services cover three steps
  • Pre-liquidation review, helping ensure an entity’s balance sheet is appropriately constructed for liquidation
  • Resolving issues identified in the pre-liquidation review, tailoring our support to clients' resources
  • Formal liquidation process, taking the company to dissolution
Services available
  • Preliminary advice on procedures to adopt
  • Production of final accounts
  • Preparation and provision of all necessary legal documentation
  • Provision of suitably qualified Liquidators
  • Filing of all relevant documentation with the relevant authorities
  • Provision of tax advice to benefit owners and finalisation of the company’s tax
  • Distribution of surplus assets