Business recovery services

A tough economic climate, rapid market changes, new competitors, disruptive technologies, strategic errors - - any or all of these can plunge a company into serious financial distress. Left unaddressed, they may threaten corporate survival.

Whether these factors occur in isolation or converge, they typically trigger a host of problems: underperformance, declining earnings, liquidity and cash- flow blockages. Companies often exhibit symptoms of distress well before a crisis erupts. In many cases, a downward spiral is not inevitable. It can be arrested and reversed. Early detection and swift, decisive action are key to restoring performance and value. That is why timely, experienced advice is critical.

If this is your situation

• You are affected by unforeseen changes in the market or shifting consumer preferences
• You are facing an actual or potential breach of covenant
• You are burdened by excessive debt or poor liquidity
• You are facing a credit rating downgrade
• Your debt is trading at "distressed" levels
• Your corporate structure is no longer aligned with your business objectives
• You have units or subsidiaries operating inconsistently with group strategy or are looking to divest/sell-off some non-core operations
• As a business or financial stakeholder, you have concerns about the business and wish to appoint independent reporting accountants to review the situation and provide available options
• As a stakeholder in a distressed business, you need to manage your exposure, both legal and financial
• As an individual in financial difficulty, you find yourself facing bankruptcy and want some professional advice and help

• Independent business reviews - When a company is underperforming, is in distress or in crisis -- our first step is to undertake a tailored, objective assessment of the situation and resources. Our rapid and rigorous review process scrutinizes financial performance, operating dynamics, asset deployment, and management issues. Then we identify a range of options.
• Non-performing loan sales and analysis - We advise banks and other financial institutions on the disposal or purchase of non-performing loans. Our services include conducting financial a due- diligence and portfolio reviews, preparing information memoranda on asset valuations and disposal options, identifying potential investors, and facilitating sale negotiations and deal completion.
• Corporate simplification- When an existing corporate structure no longer meets a business' objectives, we will work with you to identify surplus entities, release capital, reduce operating costs, and achieve a leaner and more transparent corporate structure. Our tailored approach addresses critical issues, minimizes risk, and helps ensure a smooth transition to a streamlined operating model.

• Restructuring - For underperforming companies, we deliver restructuring solutions designed to build a platform for swift recovery and sustained future success. We thoroughly assess all revitalization options; develop a plan of action in partnership with management, creditors and other stakeholders; and mobilize the resources required for aneffective implementation. Our professionals utilize PricewaterhouseCoopers unrivalled industry experience and local knowledge in planning complex, cross-border restructurings.
• Turnaround directors - To help spearhead the recovery process, we can introduce one of our highly experienced and credentialed turnaround directors. Using our wide-ranging contacts in the business world, PricewaterhouseCoopers has brought together a panel of senior turnaround executives, all with a strong corporate track record. Their proven professionalism is vital in restoring shareholder confidence and in creating a stable platform for the future. While these individuals have the resources of PricewaterhouseCoopers at their disposal, they remain independent "hands on" executives providing leadership in the business rescue process.
• Business regeneration- Our professional teams help underperforming businesses plan and implement recovery strategies quickly and efficiently. This may involve moving forward on several fronts -- crisis intervention, stabilization, and stakeholder communication; generating quick wins and reducing working capital; designing and implementing a value-recovery plan.
• Optimized exit services- When external and/or internal pressures dictate withdrawal from a country, industry, company, market or brand, PricewaterhouseCoopers can assist in optimizing value by helping you design and execute a controlled exit plan -- sell, fix and sell, wind-down. Our proven methodology optimizes shareholder returns, mitigates delays and obstacles, and minimizes disposal/divestment costs.
• Distressed mergers & acquisitions- For business stakeholders experiencing pressure on profitability, cash flow and/or the balance sheet, we maximize value through the sale of shares or business and assets in a tight timeframe using a combination of corporate finance, restructuring, insolvency and tax skills/techniques. PricewaterhouseCoopers has an accelerated disposal methodology that delivers substantial value over and above what is usually recovered in an unplanned insolvency situation, which may be the next alternative outcome.
• Solutions for discontinued insurance business- We provide innovative tailored solutions for the discontinued insurance business market. Our approach focuses on unlocking and protecting value. We have an unparalleled track record of delivering solutions for clients, drawing on PricewaterhouseCoopers global network and expertise in a run-off environment.

• Executory/corporate insolvency- Subject to local legislation, we may assume the role of Receiver, Administrator or Liquidator, or we may act as advisor to parties involved in voluntary arrangements, administrations, receiverships, and compulsory or voluntary liquidations.
• Personal insolvency- For creditors and individuals concerned with personal insolvency issues, PricewaterhouseCoopers provides innovative and practical solutions. Whether acting as a Trustee in Bankruptcy or developing an individual Voluntary Arrangement, our sensitive approach, specialist experience and leading-edge methods enables creditors to maximize recoveries while helping individuals avoid a potentially disastrous slide into bankruptcy.