Changing times puts pressure on many existing contractual arrangements. Business can change rapidly and formerly advantageous contracts may have become difficult. Perhaps the supplier hasn't performed what you were expecting them to, is encountering financial difficulties or has become insolvent. Alternatively, one party may be looking to save costs, increase value for money, or exit a contract that isn't meeting its business needs or which has become unprofitable.
Understanding your legal rights will help you to best manage, renegotiate or exit contracts in the most advantageous way and to minimise risk if things go wrong.