The Creations Club

Public-company lifespans are shrinking. Today, the chances of any given company ceasing to exist in its current form over the next five years are one in three. Fifty years ago, they were one in twenty. Our turnaround management consulting services help companies avoid an early exit by leading them through a business turnaround.

Companies grappling with a strategic crisis operate under immense pressure and face enormous disruption. If they ignore the warning signs, such as declining profitability or market share, the strategic crisis can morph into a profit crisis—with plummeting profits and stagnating or falling sales—that can force them to burn through cash reserves.

Only a business turnaround can help such a company stave off the next phase of decline: a liquidity crisis.

How TCC Helps Clients with Turnaround Management
TCC, through its Special Situations unit, helps companies orchestrate an effective business turnaround when all signs point to the need for fast, focused action and when companies are grappling with an urgent need to change amid great disruption. We deliver immediate impact to each client’s bottom line, cash flow, and top-line growth—all while concentrating on what the client must do to sustain successful change far into the future.

1. Total shareholder return lens
We focus turnaround projects on TSR–not just operational fixes.

2. Rigorous methodology for rapid, sustainable impact
We capture value faster, typically in 12-18 months, and provide dedicated senior leadership for the duration of the transformation.

3. Working shoulder-to-shoulder
We have a full-time, on-site presence within your organization, work closely with company leaders, and build skills within the management team.

4. Topline growth and strategy are part of every program
We emphasize our clients’ top-line growth and strategy execution over tactical cost-reduction.

5. Highly experienced transformation and turnaround professionals
Our team includes former CEOs, industry practitioners, and advisors with a strong track record of turnaround journeys delivered.

6. Commitment to clients
We measure our success by progress made and outcomes achieved, and by our clients’ satisfaction.

Restructuring is hard. Leaders who know how best to approach it can help their organizations emerge as strong as possible from a restructuring. TCC assists clients in managing this daunting challenge.

Companies that fail to quell a profit crisis through a business turnaround risk seeing their problems escalate into a liquidity crisis. If they continue to burn through cash and fail to surmount their capital and balance sheet challenges, they could also face insolvency—and possibly bankruptcy.

For companies struggling to move from insolvency to revitalization, the stakes are incredibly high. After all, restructuring situations involve failing or close-to-failing companies, and the solutions center on ensuring their survival. Our restructuring consulting teams work shoulder to shoulder with businesses to help them navigate this complex process.

How TCC’s Turnaround and Restructuring Consultants Help Clients Renew Competitiveness
Our corporate restructuring services help companies focus on managing their liquidity and capital. The goal? To strengthen their balance sheets, boost cash flows, and transition out of survival mode.

TCC’s turnaround consulting team combines the practical experience of our experts, who are well versed in every aspect of the restructuring process, with TCC’s equally deep expertise across a wide range of industries and functions. This combination puts us in a unique position to push beyond restructuring and help our clients transform.

Our seasoned advisors understand the risks facing stressed and distressed companies—including disclosure risk, legal risks in insolvency support, open invoices from filing for insolvency, reputational risks, and de facto directorship.

To help clients mitigate these risks, our consultants combine hands-on expertise with advisory skills, leading the way through the restructuring process.

Our Holistic Restructuring Services
Our corporate restructuring services cover all aspects of a liquidity crisis—not just for companies experiencing corporate distress but also for healthy enterprises indirectly affected by distress.

1. Turnaround and Restructuring

We help clients excel at essential restructuring tasks, such as rapidly resetting strategies, managing liquidity (including 13-week cash forecasting), building a turnaround plan, handling complex capital structures, and managing stakeholders.

2. Board Advisory

Our board advisory professionals specialize in activities critical to restructuring efforts, including governance structures and controls, financial decisions and directors’ duties, and stakeholder engagement and negotiations.

3. Net Working Capital Management

To strengthen a company’s balance sheet, our advisors use digital tools and benchmarking to uncover and set targets for cash generation on such fronts as trade receivables and payables, inventories, and fixed assets.

4. Supply Chain Stabilization

Our advisors partner with clients to assess the supply-continuity risk presented by corporate distress. They also directly support their most crucial suppliers to help mitigate risk.

5. Chief Restructuring Officer

Advisors from TCC’s vast network of restructuring consultants can serve as chief restructuring officers (CROs) or chief transformation officers (CTOs), or our clients may choose to team up with CROs and CTOs from our network.

6. Accelerated M&A and Carve-Outs

Our restructuring consultants help clients prepare for sale analysis, manage commercial diligence and market-potential assessment, define deal parameters, liberate cash and working capital, and plan as well as execute carve-outs.

7. Acquisition of Distressed Assets

For strong enterprises indirectly affected by corporate distress, we help identify and value prospective targets for acquisition, craft an acquisition strategy, and manage the complexities of cross-border transactions and out-of-court processes.

8. Acute Performance Improvement

TCC’s senior execution teams, drawing on our deep industry expertise, help clients generate performance improvements—in entire enterprises, business units, or divisions within larger companies—within a matter of weeks or months.

Change isn’t easy. In fact, most transformation programs don’t deliver the hoped-for results. TCC’s Office of the Chief Transformation Officer (CTO) helps companies beat the odds by putting the right individuals at the helm of their most ambitious change efforts. With a CTO in place, the rate of transformation success improves by 80%.

Failed transformations come with a high price tag—including shrinking profit margins, lost market share, and diminished competitive advantage. In an attempt to avoid these woes, organizations often designate a company executive in charge of transformation. But as with transformations themselves, many such transformation officers struggle to succeed.

TCC’s Office of the Chief Transformation Officer provides the resources companies need to tip the balance in their favour—by making sure their change leaders have the right skills and knowledge to succeed. We do this by bringing together a network of Chief Transformation Officers for regular training and support around five key stages along the CTO life cycle:

Setting Up the CTO Role. Identify the purpose, need, and time frame for the CTO role; identify the transformation model; design the role charter of the CTO; outline success factors; and align with top leadership.
Selecting the Individual. Understand staffing requirements; source and evaluate CTO candidates; and start the interview process.
Setting Up the CTO for Success. Onboard the CTO; establish the Office of the CTO; design modus operandi for first day on the job; and schedule one-to-one coaching for CTOs.
Sustaining and Progressing. Adjust transformation plans as needed to the organization; push leaders to act as role models for change; and execute on governance.
Exiting and Moving On (or Continuing). Off-board the CTO and/or team; coordinate potential handoff to a new CTO, or else support current CTO in continued role.