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Restructuring
Whether you're facing a crisis or trying to avert one, Plante Moran’s restructuring consultants are experts in quickly evaluating your current status and developing realistic strategic options for recovery.

Restructuring

In times of distress, our restructuring consultants are experts in assessing challenging situations, optimizing outcomes, and preserving value for stakeholders. Our team approaches each situation with an objective, fresh perspective and brings a broad set of industry expertise, client experiences, and proven processes and tools to provide solutions to fit your needs.

We bring subject matter experts to address your financial and operational challenges.  We deliver value by summarizing key risks to the organization and providing additional third party insight that identifies quick opportunities for improvement as well as longer term options for sustained financial health.

Our seasoned team can quickly provide a comprehensive analysis and action plan to get back to profitability.  Whether an organization’s distress was triggered internally or by the marketplace, our team can help evaluate options, improve liquidity and operating efficiency, and help you find the best way forward. Here are some areas where we can help:

Financial Viability Assessments

Our assessments involve a thorough review of your business including a comprehensive financial and operation analyses. We first develop a clear and accurate picture of your enterprise’s financial status. We then observe your operations, interview executive and line management and develop an overall assessment of the core processes of the enterprise.

We gather and assess data quickly because your success depends on reasoned, timely responses to changes in your markets, opportunities to exploit, and threats to the enterprise. We will determine the right metrics and analysis you need to evaluate future performance. Often we augment our assessment projects by benchmarking our clients operations against your peers in areas like pricing, operations, human resource, and financial performance. Our financial viability assessments provide a scorecard for how the Company is performing, and a roadmap for how to change the course – so that you can change the outcome.

Cash Flow Projections & Liquidity Management

Our consultants are experts in developing cash flow forecasts that serve as a tool to enable appropriate operating actions, help anticipate impending cash flow problems, and communicate effectively with key creditors and customers. Working capital management is a critical area for any organization, but particularly so for one that is strained by lack of liquidity. Any shortcomings in cash flow can cripple a business, impede growth, disrupt investment plans – or worse.

Ultimately, customers, suppliers, lenders, employees and investors need confidence in your business. A turnaround plan can be derailed if stakeholders do not buy-in to the plan or are not kept appropriately informed. We will help you develop and implement a communication strategy that fits the situation with your stakeholders.

Refinancing & Loan Negotiation

Having sufficient financing for working capital and capital assets is a key element of a business’s long-term success. We have years of experience effectively restructuring lending agreements and can call on a broad referral network of funding sources to solicit new capital where appropriate. When banker fatigue sets in, often it makes sense to evaluate new options for your long term lending relationship.

We can help you develop and market the loan package – providing the insight into Company strengths and how management adapted to new challenges that will improve attractiveness to a new lender. Helping to find and negotiate a new loan structure will provide your company the time and funding it needs to thrive. Matching your company with a lender appropriate for your size, industry, risk, and collateral profile can provide years of benefit to the borrower in the form of lower cost, better availability of funds and a more harmonious lender relationship.

Financial Forecasting/Modeling

Our consultants are experts in developing financial models that identify the key drivers of the business, assess strategic operating actions, evaluate risks, and calculate sensitivities to events outside of the control of the enterprise. We will determine the right metrics and analysis you need to evaluate potential strategic actions. When our management consultants help you with business planning, you will end up with a realistic, articulated financial picture to use to operate your business as well as a deeper understanding of the economics of your business under various scenarios.

Supplier/Customer Services and Negotiations

We have the depth and breadth of experience in management, finance, accounting, and operations that provide us the expertise to help clients successfully navigate through the many challenges of monitoring customer/creditor relationships and assisting in the negotiating process. Our consultants provide knowledgeable, practical, actionable solutions in these difficult situations and help resolve the competing claims of the enterprise, customers, creditors, and investors.

Operational Restructuring

Our enterprise improvement projects include an objective review of operations by our multi-disciplinary consultants. We deliver value by summarizing the key risks to the organization and providing additional third party insight that enable stakeholders to appropriately evaluate current performance and expected future operational levels. The operating and financial plans we develop with you will be actionable, practical, and measureable.

Our experienced consulting team can help you refine your strategies and make improvements in a number of areas including:

• Revenue Growth

o Pricing optimization

o Sales force effectiveness

o Competitive analysis

o Globalization and expansion

• Cost Efficiencies

o Plant productivity

o Improved capacity utilization

o Lean manufacturing

o Manufacturing footprint optimization

o Supply chain management & optimization

o Inventory management

o Key performance indicators

Bankruptcy Advisory and Reorganization Services

When the only viable strategy to preserve value is a Chapter 11 bankruptcy reorganization, the sale of the business, or a managed wind-down, our consultants will help you model potential outcomes, optimize recoveries and develop the detailed action plan necessary to achieve the selected path. They are available to serve you in the following areas:

• Lender negotiation and debt restructuring

• Enterprise valuation

• Sale of part or all of the business

• Liquidation analysis

• Forensic accounting

• Receiver/Chief Restructuring Officer

• Debtor representation

• Creditor representation

• Trustee representation

Our consultants provide knowledgeable, practical, and actionable solutions in these difficult situations and help resolve the competing claims against the enterprise by the creditors, customers and shareholders.

Creditor Advisory Services

Plante Moran’s restructuring professionals understand the needs of lenders, bondholders and trade creditors in distressed situations. We bring decades of experience working with distressed organizations to assist our Creditor Advisory clients maximize their recoveries.

We can help you maximize your recovery in distressed situations by providing critical analyses and services, including:

• Liquidity management and cash flow analyses

• Enterprise and asset valuations

• Collateral analyses

• Asset utilization assessment

• Operations and management assessments

• Capital structure assessments

• Business and reorganization plan assessments

• Liquidation analyses

• Feasibility assessments

• Transaction and asset disposition support

• Negotiation support

• Expert witness testimony and expert reports

Lender Services

Whether assessing how best to develop a debt facility for a new customer or evaluating how to restructure an existing credit, there's frequently a need to retain a financial consultant to assist with the due diligence. When a bank is looking for much more than a loan collateral review, we provide independent assessment of a company’s long-term viability. We work to provide an understanding of the underlying economics of each customer and keep communications open between the customer and the financial organization.

Creditor Committee Services

We have an excellent track record of working as a team with committee counsel to evaluate the debtor company’s proposal and structuring a fair settlement for the creditors. Our workout specialists can evaluate the long-term viability of the debtor and enterprise valuation of the restructured company. When needed, we also have forensic accountants who can investigate the propriety of business relationships and transactions to ensure a complete and accurate picture is developed.