Mid market restructuring

We are market leaders in providing the full complement of restructuring services to our clients from assessing business viability to identifying strategic options and supporting in implementing financial restructuring options. We believe this is critical in providing the full range of client solutions required in today’s marketplace.

In challenging circumstances, businesses may experience under-performance or financial stress. We can help achieve the best outcome for everyone involved. With a focus on businesses in the middle market space, we are able to provide our clients with the support and expertise they require in difficult times.

At PwC we have a dedicated market focus to the UK Mid Market space with experienced Partners and teams across the country working as one national team. We’re the leading and most diverse Restructuring practice in the market with a heritage from the most complex restructurings and insolvencies and we continue to invest and grow so you’re receiving the very best support.

When issues emerge such as tight liquidity, potential covenant breaches or maturing facilities that could be difficult to refinance, we support companies and their stakeholders by:

effectively assessing business viability;
identifying the strategic options; and
implementing any financial restructuring.

By combining our UK and cross-border restructuring expertise, local knowledge and sector experience, we will identify opportunities to stabilise a business and build a foundation for growth.

We are leading the way in creating tech solutions to enhance what we deliver and how we deliver it to improve efficiency and ease of engagement for all stakeholders. Our data-led insights drive better outcomes whilst protecting data integrity.

How can we help?

Effectively assessing business viability
Identifying the strategic options
Financial restructuring advisory

Effectively assessing business viability

Forming a clear view on a business at the centre of the situation is the first critical step in the turnaround process.

All stakeholders need a ‘single version of the truth’ as the foundation for their thinking around the solution. To achieve this, a review of the business’ recent performance, liquidity position, its business plan, funding structure and current and future potential value is required.

Our review gives all stakeholders the ability to assess immediate and long-term prospects, consider the appropriate funding structure and start working through their individual options. If required, our team has the skills and experience to advise on or create a business plan.

We focus on the key commercial and financial issues to answer the big questions, quickly, including:

What are the reasons for underperformance?
How severe is the liquidity situation, do we need an urgent or interim solution?
What are the longer-term prospects?
What is required to support a turnaround?
What is at stake, who are the key stakeholders and what are their objectives?
Using our ‘Green’ independent business review methodology, how does the business sit against environmental, social and governance principles?

Identifying the strategic options

We help businesses work through and prioritise options. We define a range of possible solutions and outcomes for stakeholders, demonstrating how each option could be implemented, over what timeline and the potential risks involved.

Options include:

In many cases, more than one solution may be required. This may be an interim measure to support liquidity until the longer-term outcome can be agreed, or to generate cash from alternative sources to reduce the overall funding requirement. For example disposals and raising new money.

While pursuing the preferred solution, it’s also important to understand and plan for alternative outcomes.

Not only can this provide leverage in negotiations, it keeps businesses on the front foot if they need to take alternative action.

Financial restructuring advisory

We support businesses of all sizes when they negotiate and implement financial restructuring solutions. We help to deliver the optimal outcome, often in complex, international and multi-lender situations.

We provide leadership throughout the restructuring process, which can often be a highly pressured and sometimes unfamiliar environment.

A consensual solution will usually provide the best outcome for all stakeholders. Our team has extensive experience with all parties around the table. For example shareholders, banks, funds, governments, regulators and pension scheme trustees. This means that we can effectively navigate the difference in approaches and objectives, to achieve this goal.

We advise on, or lead negotiations on behalf of our clients. We engage and manage stakeholders and preempt issues before they arise, to smooth and guide the way through the process.

Whatever the solution that businesses require, we work with them to effectively implement the restructuring and deliver the optimal financial situation for that business to operate in.

Meet our team

We have a talented team with varied skills, experiences and perspectives across the UK to get you the very best outcome to suit your needs. We’ll bring you the very best of PwC. Our network of sector and subject matter experts, regional footprint, scale and size mean we can mobilise with speed and depth to deliver value seamlessly. No matter what challenges you face, we have the right people and experience to solve them.

Our partners and directors