In an article posted on emplois.ca, Marc Bergeron, Vice-President – Recovery & Reorganization at Raymond Chabot Grant Thornton, tells CPAs how to deal with a company that is showing signs of distress.

Warning signs include a shortage of cash resources, a decline in sales, recurring deficits, late tax payments, the loss of a major client and the departure of the best employees.

Bergeron reminds accountants that it’s their duty to notify business leaders when they perceive such signs. He also mentions that many managers tend to bury their heads in the sand when their accountant tells them their business is in a vulnerable situation.

Bergeron adds that there are recovery services to help a business turn its situation around. The sooner the accountant reacts, the smoother the road to recovery.

Higher interest rates are impacting debt levels and an increase in the number of insolvency cases across Canada, and particularly in Quebec, has been noted.

Éric Lebel, Raymond Chabot Grant Thornton Partner and Licensed Insolvency Trustee, provided personal finance advice on Mario Dumont’s program broadcast on LCN on January 9, 2019.

Éric noted that there is always a time lapse between an increase in interest rates and declarations of bankruptcy.

The situation is made worse because of the easy access to credit. The financial recovery consultant provided a number of tips to improve personal finance management. He emphasized the need for a budget and invited listeners to consult the Raymond Chabot site.

He believes that the debt ratio should not be more than 30% of the budget and suggests that listeners develop sound consumption habits within their budget.

Lastly, he suggests that people have only one credit card or even just a debit card to limit their level of indebtedness.

View the interview on the LCN site (in French).

Contact a recovery and insolvency expert for a free, confidential consultation.

Raymond Chabot Grant Thornton Announces a Major combination in Québec City

QUÉBEC CITY, January 15, 2019. Raymond Chabot Grant Thornton announces it is joining forces with Laberge Lafleur Brown s.e.n.c.r.l. (hereafter “LLB”).

Recognized for their personalized assurance, tax and consulting services approach for 35 years, 25 experts of the LLB team will be joining Raymond Chabot Grant Thornton in the greater Québec City region. This is the largest transaction of this type that Raymond Chabot Grant Thornton has undertaken in the National Capital region.

Mario Morin, CPA, CA, Raymond Chabot Grant Thornton Partner and Regional Vice-President stated: “LLB’s client and employee first approach is a great complement to our firm’s growth strategy. We’re very pleased that a top-flight firm such as LLB has chosen to associate itself with us in order to enhance its clients’ experience. As the largest accounting firm in the greater Québec City region, this combination will allow our teams to strengthen our position as a force to be reckoned with.”

Jean Brown, CPA, CA, LLB Managing Partner said: “We are very pleased to join forces with a firm that has solid network of accounting experts and business advisors who focus on tailored, market-driven services with a human approach. The news about the combination has sent a buzz of excitement within the community and we’re thrilled to be part of this. We are confident that we have found a strategic partner in Raymond Chabot Grant Thornton that shares our values and those of our clients.”

Visionary entrepreneurs and those undergoing change will now have access to an expanded group of talented experts to help them grow their business.

LLB will carry on their activities under the Raymond Chabot Grant Thornton name from their current location at Place de la Cité, Tour Belle Court, 2590 Laurier Blvd., Suite 1060, in Québec City.

About Laberge Lafleur Brown s.e.n.c.r.l.

Laberge Lafleur Brown s.e.n.c.r.l. has been developing and cultivating strong ties with its client for 35 years, providing efficient and personalized accounting, assurance, tax and financial advisory services. Located in Québec City, the organization promotes a collaborative approach where the needs and objectives of its clients are at the forefront. This desire to support businesses in their growth is reflected in attentiveness and a sustained presence, as well as cutting-edge expertise as a privileged business advisor. This proximity fosters building lasting business relationships and developing solutions that contribute to the success of companies.

About Raymond Chabot Grant Thornton

Founded in 1948, Raymond Chabot Grant Thornton has become a Canadian leader in the areas of assurance, tax, advisory services and business recovery and reorganization, with more than 2,500 professionals, including approximately 200 partners. Together, Raymond Chabot Grant Thornton and Grant Thornton LLP, another Canadian member firm of Grant Thornton International Ltd, comprise more than 4,400 professionals and close to 170 offices across Canada to help Canadian organizations achieve their full growth potential both locally and globally. Grant Thornton International Ltd provides clients with the expertise of member and correspondent firms across more than 135 countries with more than 50,000 professionals.

Source and information:

Carole-Anne Dugré
Regional Manager ‒ Marketing, Communications and Business Development
Raymond Chabot Grant Thornton
Telephone: 418-647-6635
Email: [email protected] [email protected]

Francis Letendre
Head – Public Affairs
Raymond Chabot Grant Thornton
Telephone: 514-390-4201
Email: [email protected]