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.

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, 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?
Contact us for immediate support
We have a clear view of the critical questions and new answers required for effective crisis management, business resilience and continuity through these volatile and uncertain times.

Case studies

How an insolvent travel industry giant got back on track

EY teams steered international conglomerate HNA Group successfully through one of China’s largest corporate restructurings. Learn more.

16 Nov 2023 Yongmin Yuan + 2

Fashioning a sustainable future for an online clothing retailer

EY has helped fashion retailer ASOS to identify opportunities to unlock value, making it more resilient and better prepared for the future.. Learn more.

16 Nov 2023 Mona Bitar + 1

How a government struggling with debt navigated towards a brighter future

EY professionals helped Puerto Rico exit bankruptcy and build a foundation for future growth. Learn more in this case study.

11 Aug 2022 Gaurav Malhotra + 2

How to sell a travel business when no one is traveling

Flybe became the first UK airline to be rescued from insolvency after EY-Parthenon protected the struggling business and found a buyer.

31 Jan 2022 Simon Edel + 1

How to determine a solid path forward in a liquidation

British Steel needed a buyer to avoid closure and to continue the iconic brand, but a sale was never guaranteed. Learn more.

08 Jan 2022 Sam Woodward

Helping a travel business to survive and thrive during a pandemic

Strategic advice on securing liquidity kept travel advisors operating during the pandemic and positioned for success. Learn more.

23 Dec 2021

Why Chapter 11 didn’t mark the end of the Briggs & Stratton story

EY teams helped the global leader in lawnmower engines, Briggs & Stratton, when debt and COVID-19 threatened to turn off its engines for good. Learn more.

24 Sep 2021 Jeffrey Ficks + 1

    The team

    Falco Weidemeyer

    EY Global Turnaround and Restructuring Leader

    Seasoned, internationally trained performance professional. CRO and turnaround manager. Experienced in consulting and industry functions. Passionate for outdoors.

    Eschborn/Frankfurt (Main), DEU

    Gaurav Malhotra

    EY Americas Reshaping Results & EY US Restructuring Leader

    Experienced turnaround and restructuring advisor serving a variety of sectors. Loves to navigate clients through a challenge. Family man who enjoys the outdoors and is still trying to break 90.

    Chicago, USA

    Christopher Mack

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

    Experienced restructuring advisor. Has held positions as President, CFO, Global Strategy Officer and Board Director. Extensive global and broad industry experience. Traveler. Family man.

    Tokyo, JPN

    Andrew Wollaston

    EY Global Transactions Private Equity Leader

    Seasoned financial advisor and restructuring professional who has been with EY for over 30 years. Proud father of three. Poor golfer. Lover of animals and the outdoors. Interested in family history.

    London, GBR

    Yongmin Yuan

    EY Greater China Restructuring Leader

    Experienced in corporate restructuring, debt resolution, and providing practical restructuring solutions to reshape business value. Loves fishing and playing chess.


    Milan Knarse

    Partner, Turnaround and Restructuring Strategy & EY Europe West Reshaping Results Leader; Ernst & Young GmbH

    Steady in mission-critical situations, especially when facing earnings and profitability challenges. Passionate about old cars and traveling. Family guy; proud father of a son.

    Berlin, DEU

    Alan Hudson

    UK&I EY-Parthenon Leader

    Hands-on restructuring professional who thrives on leading and supporting clients through periods of transformation. Husband. Proud father. Lover of dachshunds and sport.

    London, GBR

    Gunnar Gerig

    Partner, Ernst & Young GmbH; EY-Parthenon Turnaround and Restructuring Strategy Leader in Germany, Switzerland and Austria

    Senior restructuring and transactions advisor. Extensive sector experience across transportation and shipping as well as the public sector.

    Hamburg, DEU

    Jon Morris

    EY-Parthenon UK&I Reshaping Results Leader and EMEIA Working Capital Advisory Services Leader

    Global liquidity improvement leader with a focus on organization and behavioral change. Passionate coach and speaker. Provocative and creative. Father and explorer.

    London, GBR

    Andreas Warner

    Partner, EY-Parthenon Leadership Team Europe West, Ernst & Young GmbH

    Engineer by background. Driver of business transformation. Passionate about sports. Family man with two daughters.

    Munich, DEU

    Max Scholz

    Partner, Strategy and Transactions, Ernst & Young GmbH

    Transformation and restructuring native. Trusted negotiator. Significant experience in global headcount restructuring. Ambitious hobby cook. Enthusiastic fan of Asian art and culture.

    Eschborn/Frankfurt (Main), DEU

    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

    Should CEOs double-down on business transformation in the face of uncertainty?

    Business transformation is front and center on the 2024 CEO agenda, the latest EY report finds. Read more.

    30 Jan 2024 Andrea Guerzoni + 2

    How B2B pricing strategies widen the gap between PE winners and losers  

    Read the 2023 EY-Parthenon Global B2B Pricing Study highlighting the role of pricing capabilities in maximizing value.

    31 May 2023 Laura Higgins + 1

    How can your digital investment strategy reach higher returns?

    The 2022 Digital Investment Index reveals that companies struggle with digital strategy and measuring returns on their technology investments. Read more.

    05 Apr 2022 Joongshik Wang + 2