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Restructuring Advisory Services

Our global network of restructuring professionals can help you develop financial and operational strategies to help improve liquidity, credit availability and shareholder return.

Our multi-disciplinary team offers integrated, objective advice and helps you evaluate capital options, improve the benefits of transactions and achieve your strategic goals — whether you are buying or selling a distressed asset, restructuring your business or dealing with underperformance or cash management.

Wherever you are in the world, we provide you with innovative advice and draw on our significant industry and sector knowledge to create a tailored commercial approach appropriate to your needs.

Our strong track record in advising some of the world’s largest businesses has made our restructuring teams market leaders in many geographies.

Our services include:

  • Working capital services
  • Distressed supplier advisory
  • Distressed corporate or credit advisory
  • Financial restructuring/formal insolvency
  • Legal entity rationalization

Whether your company sees itself as strong and healthy or under pressure, a clear understanding of potential risks and opportunities is essential.

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Legal entity rationalization

We advise companies as they rationalize and simplify their legal entity structures. Simplifying corporate structures can help management achieve administrative and compliance cost savings and tax efficiency.

  • Have your corporate structures become large and complex through M&A and organic growth?
  • Is the cost and time of statutory compliance and regulation a burden to your business?

Our process typically involves four steps:

  1. Identify — engage with key project stakeholders and validate current legal entity structure
  2. Diagnose and design — perform full-entity reviews to identify rationalization/elimination blockers; design and agree on rationalization/elimination plan
  3. Deliver — resolve blockers and execute initial rationalization steps
  4. Sustain — help execute elimination of entities and/or implement robust processes, systems and/or controls to sustain the rationalized legal entity structure in the future
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Working capital services

We advise and assist clients to help them drive rapid and sustainable release of cash from working capital. Using a three-phase approach, our teams help clients to identify the key drivers of working capital improvement, quantify this opportunity and provide recommendations on activities required to realize the cash.

  • Do you have signifi cant working capital balances combined with a complex supply chain and multi-site operations?
  • Do you need to generate more cash and manage balance sheet equity?
  • Do you have limited or no visibility of short-term cash flow?
  • How reliable and timely is your current short-term cash flow forecasting process?

Our approach:

  1. Identify — conduct pilot site visits, external or internal benchmarking and metric-setting; perform strategic opportunity assessment
  2. Diagnose — develop prioritized set of opportunities (e.g., process improvements, elevated compliance or changes to commercial terms) and recommend actions
  3. Design, deliver, sustain — facilitate and support the execution of recommended actions and process changes; develop key performance indicator measures and dashboards to monitor and sustain performance

We also work with clients to identify where current short-term cash forecasting practices could be improved, help implement processes to improve short-term cash flow forecasting and implement frameworks that help sustain this.

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Working capital services

We advise and assist clients to help them drive rapid and sustainable release of cash from working capital. Using a three-phase approach, our teams help clients to identify the key drivers of working capital improvement, quantify this opportunity and provide recommendations on activities required to realize the cash.

  • Do you have signifi cant working capital balances combined with a complex supply chain and multi-site operations?
  • Do you need to generate more cash and manage balance sheet equity?
  • Do you have limited or no visibility of short-term cash flow?
  • How reliable and timely is your current short-term cash flow forecasting process?

Our approach:

  1. Identify — conduct pilot site visits, external or internal benchmarking and metric-setting; perform strategic opportunity assessment
  2. Diagnose — develop prioritized set of opportunities (e.g., process improvements, elevated compliance or changes to commercial terms) and recommend actions
  3. Design, deliver, sustain — facilitate and support the execution of recommended actions and process changes; develop key performance indicator measures and dashboards to monitor and sustain performance

We also work with clients to identify where current short-term cash forecasting practices could be improved, help implement processes to improve short-term cash flow forecasting and implement frameworks that help sustain this.

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Distressed supplier advisory

In a volatile and interconnected global economy, it is no longer enough to know what is happening within your own enterprise. Businesses today must be acutely aware of the financial health and operational welfare of all members within the supply chain.

  • What would happen to your business operations and revenues should a key supplier fail to deliver?
  • Are you fully aware of — and do you regularly monitor — the early warning signs of supplier duress?
  • A key supplier is failing — what should you do?

Supply chain disruption is a stop-the-show business risk. Distressed supply chains can lead to lost revenues, as well as damaged reputations and the loss of customer confidence. Consequently, companies need to adopt a proactive approach. Our supply chain team can provide:

  1. Initial diagnostics — to prioritize key risks and essential focus areas
  2. Supplier due diligence — enabling the business to assess the state of specific suppliers
  3. Supply-chain advisory — leading to immediate actions for the short term as well as alternatives for proactively detecting and preventing future problems

We advise our clients on navigating through distressed supplier situations, avoiding business interruption while mitigating financial exposure.

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Distressed corporate or creditor advisory

We understand the requirements of different stakeholders in underperforming businesses or businesses in stress or distress. Our teams are trusted by lenders, investors and management teams to help them preserve and (or) increase capital.

  • Has your company had profit warnings and/or breached debt covenants?
  • Are you concerned about deteriorating performance at your company or group?
  • Are you concerned about your exposure to a particular corporate or group?
  • How do you optimize returns from stressed loan books?

We can assist you with the following services, including:

  1. Crisis stabilization — using our experience in helping companies forecast and manage cash and rapidly reduce costs in order to defer potentially difficult requests for further bank support; providing clear advice and strategies to management during liquidity constrained periods in working with its various stakeholders
  2. Business and strategic reviews — providing an independent appraisal of the business, its markets and management strategy; identifying potential future challenges and funding needs and providing strategic alternatives on the various restructuring options
  3. Corporate debt advisory — advising on funding alternatives, identifying potential alternative lenders and helping clients to plan and execute a refinancing
  4. Operational restructuring — working with management teams to develop and execute a turnaround plan; providing advice on specific aspects of the turnaround process and support and service in implementation roles
  5. Accelerated disposals — advising and working with management to identify, and dispose of under-performing or non-core subsidiaries and assets in an efficient and cost-effective manner to increase liquidity and improve overall corporate performance (Service provided by Ernst & Young Capital Advisors, LLC)
  6. Business closure or downsizing — developing and assisting management with business closure or downsizing initiative strategies, including planning, implementation and closure of tax related issues and elimination of dormant entities

We advise our clients on navigating through distressed supplier situations, avoiding business interruption while mitigating financial exposure.

close

Distressed corporate or creditor advisory

We understand the requirements of different stakeholders in underperforming businesses or businesses in stress or distress. Our teams are trusted by lenders, investors and management teams to help them preserve and (or) increase capital.

  • Has your company had profit warnings and/or breached debt covenants?
  • Are you concerned about deteriorating performance at your company or group?
  • Are you concerned about your exposure to a particular corporate or group?
  • How do you optimize returns from stressed loan books?

We can assist you with the following services, including:

  1. Crisis stabilization — using our experience in helping companies forecast and manage cash and rapidly reduce costs in order to defer potentially difficult requests for further bank support; providing clear advice and strategies to management during liquidity constrained periods in working with its various stakeholders
  2. Business and strategic reviews — providing an independent appraisal of the business, its markets and management strategy; identifying potential future challenges and funding needs and providing strategic alternatives on the various restructuring options
  3. Corporate debt advisory — advising on funding alternatives, identifying potential alternative lenders and helping clients to plan and execute a refinancing
  4. Operational restructuring — working with management teams to develop and execute a turnaround plan; providing advice on specific aspects of the turnaround process and support and service in implementation roles
  5. Accelerated disposals — advising and working with management to identify, and dispose of under-performing or non-core subsidiaries and assets in an efficient and cost-effective manner to increase liquidity and improve overall corporate performance (Service provided by Ernst & Young Capital Advisors, LLC)
  6. Business closure or downsizing — developing and assisting management with business closure or downsizing initiative strategies, including planning, implementation and closure of tax related issues and elimination of dormant entities

We advise our clients on navigating through distressed supplier situations, avoiding business interruption while mitigating financial exposure.

close

Distressed corporate or creditor advisory

We understand the requirements of different stakeholders in underperforming businesses or businesses in stress or distress. Our teams are trusted by lenders, investors and management teams to help them preserve and (or) increase capital.

  • Has your company had profit warnings and/or breached debt covenants?
  • Are you concerned about deteriorating performance at your company or group?
  • Are you concerned about your exposure to a particular corporate or group?
  • How do you optimize returns from stressed loan books?

We can assist you with the following services, including:

  1. Crisis stabilization — using our experience in helping companies forecast and manage cash and rapidly reduce costs in order to defer potentially difficult requests for further bank support; providing clear advice and strategies to management during liquidity constrained periods in working with its various stakeholders
  2. Business and strategic reviews — providing an independent appraisal of the business, its markets and management strategy; identifying potential future challenges and funding needs and providing strategic alternatives on the various restructuring options
  3. Corporate debt advisory — advising on funding alternatives, identifying potential alternative lenders and helping clients to plan and execute a refinancing
  4. Operational restructuring — working with management teams to develop and execute a turnaround plan; providing advice on specific aspects of the turnaround process and support and service in implementation roles
  5. Accelerated disposals — advising and working with management to identify, and dispose of under-performing or non-core subsidiaries and assets in an efficient and cost-effective manner to increase liquidity and improve overall corporate performance (Service provided by Ernst & Young Capital Advisors, LLC)
  6. Business closure or downsizing — developing and assisting management with business closure or downsizing initiative strategies, including planning, implementation and closure of tax related issues and elimination of dormant entities

We advise our clients on navigating through distressed supplier situations, avoiding business interruption while mitigating financial exposure.

close

Distressed corporate or creditor advisory

We understand the requirements of different stakeholders in underperforming businesses or businesses in stress or distress. Our teams are trusted by lenders, investors and management teams to help them preserve and (or) increase capital.

  • Has your company had profit warnings and/or breached debt covenants?
  • Are you concerned about deteriorating performance at your company or group?
  • Are you concerned about your exposure to a particular corporate or group?
  • How do you optimize returns from stressed loan books?

We can assist you with the following services, including:

  1. Crisis stabilization — using our experience in helping companies forecast and manage cash and rapidly reduce costs in order to defer potentially difficult requests for further bank support; providing clear advice and strategies to management during liquidity constrained periods in working with its various stakeholders
  2. Business and strategic reviews — providing an independent appraisal of the business, its markets and management strategy; identifying potential future challenges and funding needs and providing strategic alternatives on the various restructuring options
  3. Corporate debt advisory — advising on funding alternatives, identifying potential alternative lenders and helping clients to plan and execute a refinancing
  4. Operational restructuring — working with management teams to develop and execute a turnaround plan; providing advice on specific aspects of the turnaround process and support and service in implementation roles
  5. Accelerated disposals — advising and working with management to identify, and dispose of under-performing or non-core subsidiaries and assets in an efficient and cost-effective manner to increase liquidity and improve overall corporate performance (Service provided by Ernst & Young Capital Advisors, LLC)
  6. Business closure or downsizing — developing and assisting management with business closure or downsizing initiative strategies, including planning, implementation and closure of tax related issues and elimination of dormant entities

We advise our clients on navigating through distressed supplier situations, avoiding business interruption while mitigating financial exposure.

close

Financial restructurings/formal insolvency

Amid financial duress, early actions can help stem business losses and potentially accelerate the return to financial viability.

Our global network of restructuring professionals can help your company determine the best path forward. Whether within restructuring or through a more formal insolvency process, we can help to pinpoint the range of financial, strategic and operational alternatives for improving liquidity, credit access and overall returns to your stakeholders.

  • Are shifting business conditions or lender dynamics leading your company to experience liquidity constraints or creditor pressure?
  • Are you experiencing supply chain or operating disruptions, customer or employee defections or other symptoms of fi nancial duress?
  • Is your business on the brink of formal insolvency proceedings and in need of specialist advice or assistance?
  • Is there still time to weigh other options such as a fi nancial restructuring?

Services vary by jurisdiction and may include:

Financial restructuring — analyze stakeholder positions, identify key points of leverage and develop and assist in the implementation of viable financial restructuring plans

Bankruptcy support — assist management during formal proceedings including:

  • Developing successful reorganization strategies
  • Assisting with the preparation of bankruptcy filings, including communications protocols and reporting requirements
  • Advising on implications of assuming/rejecting contracts
  • Providing Section 363 sales process assistance
  • Developing plans of reorganization
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Contact us

EY - David R. Williams

US
David Williams
Tel: +1 212 773 1399

EY - Alan Bloom

Global
Alan Bloom
Tel: +44(0)20 7951 9898

 

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