Overcome the crisis and secure the future

Specific steps to get back to success

When a business gets into difficulties, it often faces a variety of challenges – both inward and outward. Increases in prices, supply chain problems or technological changes put huge pressure on businesses. At the same time, internal hindrances, such as an outdated strategy or inefficient processes make it hard to get out of the crisis.

We are trusted as independent experts and advisers for demanding and complex situations – we identify critical areas of weakness early and deliver well-founded analyses as the basis for long-term improvement.

With our turnaround management, we offer quick and specific solutions to regain stability, reinforce your adaptability and put your business back on course for long-term success. Grant Thornton will support you in coping with every challenge.

Master external risks

We’ll help you respond to price increases, supply chain issues and regulatory changes with agility.

Reorientate your strategy

We’ll modernise your business strategy and create business models fit for the future.

Increase efficiency

We’ll improve your internal processes, reduce costs and increase your efficiency and competitiveness.

More than just crisis management

Our all-round approach to turnaround management

All-round turnaround management requires a complete consideration of all the relevant areas of a business. Our approach combines strategy, economic success, structure and corporate culture to create long-term solutions.

We offer a broad range of turnaround services individually tailored to your needs – from restructuring all the way to digital transformation.

Our services in the area of strategy focus on developing a clear vision, a business strategy for the future and a reliable business model. The goal is to position your company on the market successfully for the long-term.

  • Finding a new direction for your business model – we’ll help you to adapt your business model to the changes in market conditions and design it to be fit for the future.
  • Valuation under IDW S11 – a detailed valuation of the condition of the business enables decisions in the turnaround process to be made at the right time.
  • Digital transformation – we integrate innovative technologies to increase efficiency and ensure you remain competitive.
  • Due diligence – careful review and analysis to evaluate your business’s economic situation or potential takeovers.

We’ll take care of your economic stability by analysing and optimising your financial situation. Our focus is ensuring liquidity and improving your earnings long-term.

  • Recovery reports (IDW S6) – well-funded reports that show how to stabilise a business and restructure it for the long-term.
  • Financing advice – developing financing solutions to safeguard your liquidity and expand your options.
  • Optimising operations – we’ll create effective structures in your operational processes to increase profitability.
  • Process optimisation/automation – we’ll optimise and automate processes to maximise efficiency and reduce costs.
  • IBR and checking the plausibility of budgeting – we’ll cast a critical eye over your multi-year budgeting and identify areas requiring action to strengthen your liquidity and earning power.
  • Setting up an early warning system and a restructuring plan under the stabilisation and restructuring framework (“StaRUG”) – we’ll support you with rescue measures before insolvency.
  • Certification under section 270d of the German Insolvency Statute [InsO] (“protective shield procedure”) and evaluation under section 270a (debtor-in-possession management) – we’ll support you with expert opinions in executing court restructuring instruments.
  • Giving second opinions on existing recovery plans and developing potential for further costs and liquidity.
  • Drafting solvency opinions to secure corporate transactions

Our clear structures and efficient structural organisation ensure that your business becomes more agile and performs better.

  • Optimising structural organisation – we’ll set up the structure of your organisation to make internal processes and responsibilities clear
  • Realigning systems – optimising and integrating systems that support your processes and foster efficiency
  • Project portfolio management – strategic planning and prioritising your projects to make best use of your resources
  • Project management – management and execution of your projects with clear milestones and targets.

A strong corporate culture, clear leadership and open communication are crucial to turning around. We’ll help you strengthen these elements and specifically develop them.

  • Coaching – we support managers and teams with actively shaping the transformation process
  • Stakeholder management – we make sure communication is clear and the interests of all stakeholders are kept in balance
  • Manager development – targeted development of managers to effectively lead transformation processes
  • Communication in transformation – we’ll strengthen your internal and external communication to create trust and acceptance in times of crisis.

When insolvency threatens, legal expertise is crucial. Our legal advice supports you with restructuring and assists you through the insolvency process to achieve the best results possible.

 

We support companies with specialised services to provide expert reports in finding a new direction, focusing on sorting out what went wrong and evaluating processes and company structures to identify potential for increasing efficiency and optimising value. Our expertise especially includes particular issues beyond standard restructuring and delivers precise, independent opinions on strategically reorientating your company.

Rainer Wilts
Get in touch
Rainer Wilts
Partner
Contact Rainer Wilts Learn more about Rainer Wilts
Rainer Wilts
Contact Rainer Wilts Learn more about Rainer Wilts
Rainer Wilts
Partner
Rainer Wilts
+49 211 9524 8123

Your consulting team for the turnaround

Klaus Schaldt
Klaus Schaldt
Partner
Duesseldorf
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Klaus-Martin Haußmann
Klaus-Martin Haußmann
Partner
Frankfurt am Main, Munich
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Thomas Leschke
Thomas Leschke
Partner
Berlin
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    From crisis to stability

    Turnaround management in practice – our success stories

    The successful turnaround of an automotive supplier
    From check to IDW S6

    The successful turnaround of an automotive supplier

    1.
    Creating a liquidity and budgeting model
    We developed a liquidity model that clarified short-term obligations under insolvency law and a budgeting model that served as the basis for long-term business planning.
    2.
    Plan with operational and structural steps
    In stage two, steps were identified for short- and long-term stabilisation and an implementation plan finalised. The effect was evaluated using an integrated planning model.
    3.
    Loans deferred using the plan
    This plan was used to get loans with banks deferred until a complete recovery report under IDW S6 could be implemented.
    4.
    Drafting a recovery plan under IDW S6
    We were also commissioned with drafting the recovery plan and were able to confirm that it would be possible to recover the automotive supplier as a going concern.
    Global market leader for safety products in cargo loading
    Successful turnaround

    Global market leader for safety products in cargo loading

    1.
    Analysis of existing calculations
    Owing to a loss for the financial year and negative margins, we were commissioned with reviewing the calculations and processes for the standard costs and developing a new basis for calculations.
    2.
    Value stream analysis & cost rates
    Analyses revealed outdated cost rates and assumptions. Updated value stream data and recalculated rates formed the basis for new standard costs.
    3.
    Deviations & drivers
    The recalculation of the standard costs showed figures that were considerably higher. In stage two, deviations were analysed and steps take to reduce costs and to optimise the variety of variations, in order to ensure competitiveness.
    4.
    Steps for standard costs
    To implement the steps, a chief restructuring officer was appointed on our recommendation, whose successfully implemented the steps.
      Our awards
      We’re proud of the awards we’ve won. And we’re just as happy that our clients give us top ratings! We’re working hard to keep it that way. And that’s a promise!

        FAQ on turnaround management

        Turnaround management comprises targeted steps to get a company that is in a financial or operational crisis back on course and avert insolvency. It aims to identify areas of weakness early and take preventive action before critical situations escalate. This combines reorientating strategy, optimising processes and financial stabilisation to ensure that the business is competitive for the long-term.

        Turnaround management becomes necessary when a business is no longer able to cope with the financial, operational or strategic challenges it faces alone. Typical signs are liquidity problems, declines in sales, inefficient structures or changes in the market.

        Turnaround management is suitable for businesses of every size – from mid-market to global groups. Our expertise extends across industries – we serve all sectors, from industry and retail to technology to services. Regardless of whether your company is facing specific market requirements or unique challenges – our all-round approach offers bespoke solutions for every sector and situation.

        The turnaround process usually includes four stages:

        1. Analysis – taking stock of the current situation and identifying areas of weakness
        2. Strategy – developing a plan
        3. Implementation – implementing operational and strategic measures
        4. Stabilisation – ensuring long-term competitiveness

        The length of time depends on how complex it is – the first signs of success may be seen within weeks. Comprehensive turnarounds typically take several months.

        Inner weaknesses that often lead to a crisis include:

        • Outdated or unclear business strategies
        • Inefficient processes and high cost structures
        • Low capacity to adapt to market changes
        • Weak crisis management and unclear communication.

        These factors make it difficult for businesses to respond to external challenges.

        A recovery report under German Standard IDW S6 is a detailed analysis of a business’s economic position. It shows whether a business can be recovered for the long-term and how. This report is often required by creditors or investors to assess the financial sustainability and outlook for success of the measures planned.

        We will coordinate with you and the creditors in each case whether a comprehensive report is necessary in accordance with Standard IDW S6 and Federal Court of Justice (BGH) case law or not, or to what extent the scope and expense can be appropriately limited.