Chief Restructuring Officers 

• A loss of stakeholder confidence (banks, other lenders,  investors, suppliers) and strained or poor communication.
• Underperformance and poor management of stakeholders' expectations  - repeated failure to execute plans, overly optimistic forecasts.
• Critical management gaps, situational skill deficiencies, questions and concerns over senior management capability to deal with the situation or execute plans.
• Financial performance and cash/working capital challenges  leading to going concern,  liquidity and/or covenant  issues.
• Management  continuing to manage for profit or share value when cash and debt recovery has actually become the more pressing issue.
• Unforeseen issues - black holes, governance and  control issues or breakdowns, lenders have requested an IBR (independent business review), a step change in the businesses key markets.

• Our CROs can take hands on executive roles focused on managing and  implementing the restructuring and turnaround.
• We seek consensus amongst stakeholders.
• We are able to create stability within the business.
• We execute both the operational and financial restructuring i.e. improving the business and re-engineering it's balance sheet.
• Depending on the situational requirements we can utilise other KPMG experience to offer a wide range of solutions and outcomes e.g. People Services, Debt Advisory Services, Crisis and Strategic Cash Management, Exit planning and Implementation

As a client the key benefits can include:

• Immediate support for your business, Board and executive management.
• Improved control of the necessary restructuring and/or turnaround process.
• Clear, open and trusted communication with stakeholders.
• An opportunity to refresh and renew the focus on business performance with the potential to improve results and value.
• Enhanced speed and quality of decision making.
• Alignment of  company and creditor objectives.
• Executive input into analysis and decision making taking  direct executive responsibility - this direct intervention contrasts with the traditional advisory model which must act through an incumbent management team.
• Execution of a wide range of other solutions, including refinancing, sale or exit of business(es).

• We have extensive turnaround situation experience, which is  valued and respected in the restructuring market, with multi-award winning credentials.
• We have direct access to and the support of the  multi-disciplinary experience within KPMG including Private Equity, Tax and M&A, meaning we can provide wide-ranging, scaleable advice.
• We are willing to align our fees with achieving successful client outcomes.
• We can offer the support required according to your situational needs whether that means taking a Board appointments or an advisory role.

• Project Linder - Oil Support Services - £958 million capital budget - took key board roles, managed change of control,  negotiation and transition of  major commercial  contracts.
• Project Carlton - Telecom Infrastructure- £115 million debt - full restructuring and exit review, separation of loss making businesses, overhead reduction, return core business to profitability.
• Project Templeton - Rail Leasing - £400 million debt - UK and European business separation and set up to accelerated timetable, operational governance and business process review and improvement plan.
• Project Brentford - Consumer Services - £200 million turnover, £120 million debt  - operational improvements; full debt repayment; eventual sale of business.
• Project Savanna - Audit client - Distribution - £500 million turnover, £115 million debt - stabilisation ahead of appointment of new management team.