Lloyds Banking Group Business Support Unit’s mission is to support the turnaround of all viable businesses for the benefit of our customers, stakeholders and the wider community to help Britain prosper.
The Business Support Unit works closely with customers in financial difficulty to establish clear and timely turnaround strategies with the aim of returning customers to financial health. Our approach is clearly defined and we supported the development of the IFT Statement of Principles.
Our approach is empathetic and we take each customer’s individual circumstances into account. Our team provide national and regional coverage reflective of the businesses and communities we support. We continually review and enhance our approach to supporting all our customers, including those in financial difficulty.
Where a turnaround is not possible, our team work with customers to explore alternative options and solutions. Insolvency is always considered only as the last resort. Where a business is not viable or an insolvency event occurs, our independent Recoveries team works with customers to agree repayment plans and a way forward.
We take pride in supporting customers across all sectors of the UK economy, from the smallest owner-managed business to large and quoted entities. We have a strong track record of supporting business turnaround, wherever possible working with the customer to provide time to address the root cause issues, knowing that a successful outcome will help preserve businesses and jobs and help Britain to prosper.