Sooner or later, all companies face challenges. Our special situations team delivers turnaround and restructuring consulting services to clients facing profitability and liquidity crises.
In a complex business environment, any company can face market shifts, deteriorating profitability, cash scarcity, or a governance crisis. The challenge lies in objectively understanding your situation and intervening rapidly with solutions that ensure survival. We work shoulder-to-shoulder with businesses to help them navigate this complex process. Our turnaround and restructuring consulting experts have led thousands of major corporate turnaround and restructuring programs across industries and markets worldwide.
Our team work with BCG’s industry and functional experts to help clients achieve the true goal of a full-fledged business restructuring and turnaround—to overcome a business crisis and return the company to a state of value creation—with strategic actions geared toward all three phases of the journey.
We have a broad portfolio of turnaround and restructuring services that we customize to fit a company’s unique needs and context, along with regional differences, regulatory considerations, and other factors.
Turnaround Planning. Building an operational turnaround plan to restore the top line, profitability, and cash optimization
Distressed M&A and Carve-outs. Developing buyer- and seller-specific M&A concepts for distressed companies and business units
Independent Business Review. Assessing a company’s situation and plan to support discussions with management, shareholders, and creditors
Restructuring Office. Working shoulder to shoulder with management to implement an operational turnaround plan and restore profitability
Cash Office. Establishing a short- and medium-term cash trajectory through enhanced cash control and working capital measures
Insolvency Support. Supporting management and shareholders to assess and steer restructuring and insolvency issues
The most progressive governments are restructuring to provide citizens with end-to-end services through a single point of contact.
A large industrial manufacturer was burning cash because of poorly managed operations and a failure to anticipate changes in its market. We worked with the management team on a full business turnaround, selling off underperforming sites, optimizing the product portfolio, and revamping pricing strategies. The result? The company unlocked €230 million in recurring annual profit and $250 million in cash within 18 months.
Our special situations team has a collection of solutions to complement their turnaround and restructuring services and make progress with clients from day one. This toolbox includes turnaround levers and estimates by industry; working capital levers and estimates; cash modeling tools; and a battle-proven turnaround management, governance, and steering manual. In addition, the team leverages proprietary BCG products, including:
KEY by BCG. Our proprietary end-to-end program management tool enables companies to manage complexity during every phase of a transformation and secure implementation.
OrgBuilder by BCG. BCG's organizational design software provides a single source of truth to enable organizational transformation and facilitate change management.
Cost Benchmark Index. BCG’s index of industry-specific cost benchmarks identifies a company’s potential through the phases of their business restructuring and turnaround journey.
Overall, European companies have done well in the past couple of years. High inflation and interest rates remain a challenge, but resilience is the key to further growth.
The German real estate industry faces a liabilities “maturity wall” fueled by ongoing economic headwinds. Stakeholders can preserve value with operational, financial, and structural remedies.
According to a recent BCG survey, many companies in Germany, Austria, and Switzerland may struggle to simultaneously refinance outstanding debt and fund large-scale business model transformation.
When a company’s existence is on the line, the finance department needs a laser focus on short-term liquidity.
Our special situations team has decades of experience supporting companies—across industries and regions—manage their business restructuring and turnaround. Here are some of our experts.
