Restructuring and turnaround strategy

Today’s disruption will require organizations to reshape. Strategic change focusing on financial and business restructuring or turnaround must be implemented with speed and certainty. We provide trusted leadership in critical and complex situations to transform, create, preserve and recover value.

Kapcsolódó témák

Stratégia és Tranzakciók

The team

Falco Weidemeyer

EY Global Turnaround and Restructuring Leader

Christopher Mack

EY-Parthenon Asia-Pacific and Japan Turnaround and Restructuring Strategy Leader; EY Asia-Pacific Reshaping Results Leader

Yongmin Yuan

EY Greater China Restructuring Leader

Case Study The better the question The better the answer The better the world works

Reframing the future of an iconic skiwear brand

EY-Parthenon helped BOGNER refinance, reshape and return to profitability in spite of the COVID-19 pandemic.

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skiers on a snow covered mountain wearing Bogner clothing

The better the question

How do you refocus the performance of a fashion industry icon?

Luxury skiwear brand BOGNER brought EY-Parthenon on board to improve profitability and prepare for future growth. Then COVID-19 hit. Folytassa az olvasást

a still from the breand video produced by Gtroup SJR for SaT - Laura Williams

The better the answer

Maintaining a strategic perspective in the midst of complexity

A performance management program swiftly became a major transformation effort when the first wave of the COVID-19 pandemic struck. Folytassa az olvasást

The better the world works

A relationship based on trust produces outstanding results

In its 90th anniversary year, BOGNER celebrated the success of a performance program that put the company on a secure footing for the future. Folytassa az olvasást

What EY restructuring and turnaround strategy teams can do for you

As part of EY-Parthenon, our financial and business restructuring professionals support EY clients, from design to delivery, focusing on practical solutions that yield measurable results.

Organizations across the globe are facing an unprecedented array of challenges. These threats come in many forms whether they be weakened balance sheets, uncertainty over COVID-19 recovery curves, challenges of operating in a virtual environment, macroeconomic or geopolitical changes, competitor innovation or changing stakeholder expectations.

When time is important, our experienced problem-solvers provide restructuring advisory to move quickly from ideas to implementation. With access to an unrivalled bench of restructuring and turnaround professionals with industry experience, our global reach and rapid local reaction teams mean that our professionals can be quickly deployed wherever they are needed.

Connected globally, delivered locally and digitally enabled, our restructuring and turnaround strategy team is supported by a broad range of EY tools and technologies. EY M&A tools: Connected Capital Technologies help EY professionals deliver actional insights at a faster pace and deeper level than before, helping to ensure we can provide value to our clients.

We can help you answer common turnaround and restructuring challenges including:

How can I rapidly improve the financial and operational performance of my business?
Who can help me develop options for a rapid turnaround, rescue, recovery or contingency plan; then help me find capital to support it and negotiate with my stakeholders?
Who can help me lead the restructuring, or offer interim management roles such as Chief Restructuring Officer (CRO) or Chief Restructuring Advisor (CRA)?
How can I make more informed decisions about working capital and liquidity management?
Who can help me take an investor lens view to my portfolio evaluation?
How can I reshape the business model through business redesign?
How do I make strategic decisions in times of ambiguity and uncertainty?
How can I ensure that my tax strategy will maximize value in my turnaround plan?

Most restructurings need a “Plan B” — whether as a contingency plan to provide comfort for directors and stakeholders or, alternatively, for financial stakeholders to create a credible point of leverage to break the deadlock and help all parties reach a consensual deal. In particularly challenging situations, when directors and businesses are facing increasing risks and challenges to continued trading, we create the time, space and environment to develop and deliver the right solutions.

We work with management and financial stakeholders to use the pace, protection, powers and flexibility available under insolvency laws to address the issues threatening the survival of a business.

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Group structures can become increasingly complex over time, leading to increased costs and risks.

We have experience supporting the complete spectrum of organizations in simplifying their corporate structure. Our team integrates restructuring, tax and financial advisory knowledge to help organizations assess, rationalize and simplify their legal entity structures across the following key phases of corporate simplification: setup, group complexity analysis, program management, due diligence, and issue resolution and entity eliminations.

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Especially in times of uncertainty and disruption, many management teams struggle to sustain good control over short-term cash flows and the working capital that drives them, leaving the business vulnerable to market and operational changes.

We have experience supporting the complete spectrum of companies, whether a successful business seeking to enhance shareholder value or an organization experiencing a cash crisis. We help you develop the three main ingredients of strong working capital management: identification of cash-generating opportunities, cash flow forecasting, and visibility and control through our advanced digital analytical techniques.

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EY can help with interim management acting as a Chief Restructuring Officer (CRO) and offering Chief Restructuring Advisor (CRA) services. Restructuring or turning around an organization brings many challenges on top of the daily demands of running a business, for example: managing competing agendas, creating time to develop options, knowing which option is the right one when information may be imperfect and executing decisions at pace to maintain stakeholder support in a stressed environment.

We create understanding, alignment and support with internal and external stakeholders. We focus on actions that deliver transformational outcomes and provide interim management solutions, including offering a CRO or CRA, to help you deliver results.

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Stakeholders are asked to respond quickly when businesses underperform or suffer liquidity shortfalls or value erosion. We help provide support and communications in a rapidly changing environment when information is incomplete, agendas no longer align, and confidence is reduced.

We work with all stakeholders to preserve, create and recover value through restructuring advice, critical appraisal of a company’s ongoing viability, stakeholder intermediation, options analysis and entity priority analysis.

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Preserving value for a company and its stakeholders often requires a reshaping of the capital structure and assets in the portfolio. This is achieved by a combination of selling non-core assets or business units to generate cash, attracting new capital and rescheduling or retiring existing obligations. Our team is experienced in helping you prepare proposals, obtain stakeholder support and execute the transaction.

In the USA, Ernst & Young Capital Advisors, LLC (EYCA) is a registered broker-dealer and member of Financial Industry Regulatory Authority (FINRA: finra.org) and offers investment banking services with access to a network of EY debt restructuring, M&A, debt capital markets and equity capital markets professionals across the globe.

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Most businesses are likely to experience operational challenges and underperformance at some point. While the root causes can be buried, the negative impact can be highly visible — profit warnings, declining performance metrics, failure to achieve project milestones, loss of customer contracts or management departures.

Whether a business is in crisis or is simply facing an operational challenge, our team is experienced in helping underperforming or stressed businesses to develop and implement operational strategies to drive rapid performance improvement.
Most businesses are likely to experience operational challenges and underperformance at some point. While the root causes can be buried, the negative impact can be highly visible — profit warnings, declining performance metrics, failure to achieve project milestones, loss of customer contracts or management departures.

Whether a business is in crisis or is simply facing an operational challenge, our team is experienced in helping underperforming or stressed businesses to develop and implement operational strategies to drive rapid performance improvement.

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Non-performing loans (NPLs) remain a challenge for banks, particularly in these times of economic uncertainty.

Our loan portfolio solutions team brings together experienced operators and deal advisors to advise financial institutions about their non-performing loan portfolios and also the buyers of those portfolios, delivering value through our breadth of knowledge and expertise.
At whatever stage an organization is on the performance curve, tax is an area that cannot be overlooked. Tax strategies can have an enormous impact on your business recovery. When well managed they can be vital in enabling a business turnaround, however when ignored they can eliminate options.

Whether your business is underperforming, stressed or distressed, our global network of tax professionals can help you create, preserve or recover value. The global EY network combines local tax knowledge across a broad spectrum of industry sectors, to help you make informed decisions and navigate the tax implications of all your business-critical decisions.

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Case studies

The Team

Strategy consulting

turnaround strategies to help organizations increase profitability and long-term value
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Corporate and growth strategy

EY-Parthenon professionals can help your business design and provide transformative strategies for sustainable growth. Learn more.
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Restructuring and turnaround awards and recognition

Some of the recent awards won by member firms of Ernst & Young Global Limited include:

TRI Awards 2020: International Firm of the Year winner (global award)

IJGlobal Awards 2020: European Social Infrastructure Healthcare PPP deal of the year winner (EMEIA award)

TRI Awards 2020: Best Use of Technology winner (UKI award)

Pre-Pack Restructuring Of The Year — Mid-Markets; Industrials Restructuring Of The Year; Private Equity Deal Of The Year — Large Mid-Markets

Our latest thinking

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Az EY-Parthenon egy olyan márka, amely alatt az EY számos tagvállalata nyújt stratégiai tanácsadási szolgáltatásokat szerte a világon.

Restructuring and turnaround strategy

Reframing the future of an iconic skiwear brand

EY-Parthenon helped BOGNER refinance, reshape and return to profitability in spite of the COVID-19 pandemic.

What EY restructuring and turnaround strategy teams can do for you

Contingency planning and insolvency solutions services

Corporate simplification services

Liquidity and working capital services

Interim management: Chief Restructuring Officer/Advisorransactions

Preserving stakeholder value

Debt restructuring, raising capital and M&A services

Rapid value creation services

Private equity value creation services

Non-performing loan services

Restructuring and turnaround tax services

Case studies

The Team

Falco Weidemeyer

Christopher Mack

Yongmin Yuan

Milan Knarse

Alan Hudson

Dr. Gunnar Gerig

Jon Morris

Andreas Warner

Restructuring and turnaround awards and recognition

Our latest thinking