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Issues with Financially Distressed Companies in Thailand

Transcript of the above video:

As the title of this video suggests, we are discussing distressed companies here in Thailand. 

I have to say it has been unfortunate, the last roughly 8-9 months since we have seen the response to COVID-19 here in Thailand and all of the travel restrictions and the lack of tourists especially. It has had a tremendously negative impact especially on many of our clients and folks that we deal with and folks that we have advised here in the past few months. Especially in things like the food and beverage industry has been really hard hit; the tourism industry very hard hit; a lot of things that are ancillary, businesses that operate a little further down the line, for example certain laundry businesses we have dealt with that were providing linens and things to a lot of restaurants here in Bangkok, we have seen them really detrimentally impacted albeit indirectly by a lot of the situation that has arisen here in Thailand. 

The reason for making this video is we do provide advisory services to clients and companies that are in a distressed way. They have a situation on their hands where they may need assistance in figuring out to how best navigate the situation this and that does not necessarily mean bankruptcy or declaring insolvency or anything of that nature. It simply may just be figuring out a way to sort of restructure one’s debts, fixed costs, deal with one’s fixed capital if there is any operational capital in such a way that they can sort of limp through this with the hope of getting to the light at the end of the tunnel when things start to return to a more routine business environment that existed prior to March, 2020. 

The reason for this video is first of all I want to be clear it is really unfortunate the way that things have played out in the last eight nine months. Truly folks on personal level are in my thoughts with respect to those that have done business; often times done business for years if not decades in Thailand. This thing has really thrown people for a loop and we do provide advisory services for folks to try to figure out a way to get through this and hopefully come out at the end of the tunnel at the other end of this.