RESTRUCTURING

A cost base rebuilt around what actually earns

9 months

of runway recovered

The board wanted a ten per cent cut across the board. We found the third of the cost base that was earning nothing instead.

November 2025

The instruction was a ten per cent cut across the board. An even cut removes the same share from what earns and what does not, which is an average rather than a decision.

We sorted the cost base by what it returned. A third of it was earning nothing. Removing that recovered nine months of runway and left the parts that pay untouched.

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OPERATIONS

£4.2m

released from working capital

A cash cycle rebuilt in eleven weeks

Ninety days of stock and a payment run nobody owned. We rebuilt the cycle and the cash came back before the facility was needed.

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GROWTH

31%

increase in win rate

Repricing a services book without losing a client

Twelve years of undercharging, defended by habit. We repriced against real win and loss data and not one account left.

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Halden Advisory

London

Halden Advisory

Independent advisory for boards and founders. London.

Services

Strategy under constraint

Commercial and pricing

Operating model

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