How to be COVIDSafe when visiting Grant Thornton offices. Find out how

Restructuring and Turnaround

Causes of financial distress can be internal – like underquoted contractual commitments – or external – for instance, changes to the demand or supply side of a business resulting from changed economic circumstances, such as COVID-19. In many cases, it is a combination of both.

Financial distress is best understood not as being a singular state but, rather, a wide spectrum: from inability to pay statutory liabilities (BAS payments) on time to inability to pay wages – and everything in between. Where a business sits on the spectrum impacts its ability to restructure its affairs. Generally speaking, earlier intervention offers a broader suite of options.

Business restructuring and turnaround initiatives available are unique to the circumstances of each business, but can generally be classified under three distinct streams:

  • Strategic initiatives (e.g. pivoting to new markets, divesting or acquiring business units)
  • Operational initiatives (e.g. modifying key performance drivers, such as customer pricing, employee remuneration/incentives, overhead reviews)
  • Financial initiatives (e.g. restructuring debt repayment profiles and, in certain cases, compromising debt either formally or informally)

Assuming responsibility for formulating and executing a business restructure or turnaround strategy can be challenging for management, particularly if resources are already stretched dealing with the day-to-day operations and obligations of the business.

Grant Thornton’s restructuring and turnaround team works closely with key stakeholders – including owners, managers and lenders – to quickly identify and resolve issues affecting profitability, protect enterprise value and recover value. We’ve successfully managed restructuring and turnaround projects across a variety of industries in time-critical situations and have a strong track record of helping mid-sized businesses and organisations build sustainable platforms for growth.

At an early stage, we develop a re-organisation plan to drive successful outcomes for our clients, including a financial, operational and strategic analysis and a management team assessment. Our goal is to get businesses and organisations back on track and put them on the course to future growth.

We also provide lender support services to major banks, private equity specialist financiers and international financial institutions.

Learn more about insolvency-related services:

Our Restructuring and turnaround services

Independent business reviews

Does your company need a health check? Grant Thornton’s expert team can help you get to the heart of your issues to drive sustainable growth.

Commercial performance

We help clients improve commercial performance, profitability and address challenges after internal or external triggers require a major business model shift.

Safe Harbour advisory

Our Safe Harbour advisory helps directors address requirements for Safe Harbour protection and business turnaround.

Corporate simplification

We provide corporate simplification and managed wind-down advice to help streamline and further improve your business.

Director advisory services

We provide strategic director advisory services in times of business distress to help directors navigate issues and protect their company and themselves from liability.

Debt advisory

We work closely with clients and lenders to provide holistic debt advisory services so you can raise or manage existing debt to meet your strategic goals.

Matt Byrnes
Partner & National Head of Restructuring Advisory
Matt Byrnes
Learn more about Matt Byrnes
Matt Byrnes
Partner & National Head of Restructuring Advisory
Matt Byrnes

Get in touch

Grant Thornton Australia collects your personal information so we can send you communications including invitations to future events, industry insights and other relevant communications. You can opt-out of receiving these communications at any time via our preference centre. Privacy Policy.

Subscribe to receive our publications

Subscribe now to be kept up-to-date with timely and relevant insights, unique to the nature of your business, your areas of interest and the industry in which you operate.