No Match Found
“From Chief Restructuring Officer and board roles to supporting your teams with additional resource, we have the expertise to deliver successful restructuring outcomes in complex situations.”
This international retail conglomerate with over 40 brands globally faced challenging and exceptional circumstances following the announcement of possible accounting irregularities and the resignation of the group’s CEO.
A PwC Partner, Director and team were seconded into the organisation to drive a debt restructuring process and more transparent financial reporting platform.
This resulted in short term liquidity support and a successful complex debt restructuring
PwC supported one of the largest teaching hospitals in the UK, with over 11,000 staff and over 1,000,000 patient contacts per year, with secondments of a CFO, a Turnaround Director, Deputy CFO and Financial Improvement Director to drive implementation of their financial recovery.
Having been through a turnaround programme in 2015 the financial position deteriorated again significantly towards the end of 2017 with operations needing significant turnaround to improve performance.
The PwC team supported the Trust by:
The Trust’s position was stabilised, with clarity over its true financial position and drivers behind financial improvement, with improving confidence from the NHS regulator.
Periods of market decline, significant under-investment from prior owners and increasingly high costs meant the superyacht manufacturer was facing significant challenges and needed to turnaround operations swiftly.
A new CEO and CFO were appointed and a secondee from PwC as an operations director, to drive the turnaround of the manufacturing operations, procurement and production engineering.
PwC supported the team across a number of projects, including:
Working closely with the new executive team across a whole range of critical restructuring projects, PwC helped the company create EBITDA of £6m for the year ending December 2016, an improvement of £36m.
Having taken control of one of the UK’s leading waste management companies via a debt for equity swap in 2015, lenders sought repayment through asset sales, which required a carve-out of a complex and disparate group.
With the appointment of a new Board Chairman and CEO, a PwC Director provided hands-on support to drive implementation of the restructuring programme.
Working alongside management, they:
The organisation succeeded in delivering the strategic restructuring plan, within the tight timetable set by the shareholders, exceeding expectations in relation to value and outcome.
Non-core businesses were disposed of in clean transactions to suitable owners, providing a sustainable future for each business and its employees.
A new CFO was brought into the multinational safety equipment manufacturer which was experiencing difficult trading conditions following the oil price drop in 2015, leading to Oil & Gas customers cutting Capex spend.
Three secondees were brought in to support the new CFO leading the restructuring and turnaround process as Head of Group Controlling, Interim FD to complex APAC division and budget analyst. Delivered greater transparency on subsidiary performance (across over 60 entities) and more reliable budgeting and reporting.
Over twelve months the PwC team provided hands-on support to the group by:
The successful refinancing process resulted in injection of new money (debt and equity) and extension of senior facilities to FY21. Forecasting processes were improved, and new insights led to a broader, international restructuring and simplification plan across several group entities.
A UK co-operative with annual revenues of over £1bn revenues across a number of sectors, with turnaround and simplification needed to reassess the business with market disruptors.
Following the appointment of a Chief Strategic Officer, (‘CSO’), this turnaround professional requested a PwC senior manager to support him drive the turnaround by providing hands on PMO support.
Working alongside management the secondee:
The support provided enabled the business to successfully refinance while initiating the new strategic plan.