Store Openings and Closures 2024
A long-term view of openings and closures: a move towards stability?
What do we do?
We embed turnaround and restructuring professionals into organisations from senior roles on Boards to junior roles within teams to drive rapid change or overcome financial pressures.
Restructurings are usually complex, time pressured and require careful management of stakeholders. This puts significant additional responsibilities on management teams who often don't have the capacity or capability to delivery new and evolving critical/time sensitive/imperative tasks at pace in parallel with business as usual activities.
Many of our clients in these situations supplement their management team (or the layer below) with specialist PwC restructuring professionals. They quickly become an integral part of the team and become essential partners for business leaders and stakeholders to deploy in mission critical situations.
We can help you with a wide range of roles, from Chief Restructuring Officers (CROs) being appointed by the Board to lead the restructuring to more junior staff who support the delivery of a key element of the programme.
We’ll bring you the very best of PwC. Our network of sector and subject matter experts, nationwide footprint and size mean we can deliver value seamlessly.
Why would you need us?
In a complex restructuring, management often find themselves stretched and insufficiently resourced, as a result our clients have sought to strengthen their teams with restructuring experts, who bring significant:
- Capacity - Allowing organizations the breadth to successfully run multiple work streams; turning around performance, restructuring and all whilst continuing to drive business as usual operations.
- Capability - We have specialist restructuring skills from turning around performance or restructuring the balance sheet to successfully deliver a restructuring; including cash flow forecasting, WC management, rapid cost reduction, developing and executing restructuring plans, complex stakeholder management & communication planning.
- Situational experience - Organisations may lack experience of restructuring and turnaround situations, where our specialists can bring experience in managing key stakeholders and a turnaround plan.
- Flexibility - Adaptable resource that can be varied by grade, location and length of assignment to meet the needs of a rapidly changing situation.
- Global scale and breadth of expertise - Our individuals can draw on expertise from a global network of PwC professionals with expertise across a wide range of business situations.
When do you need us?
A successful turnaround or restructuring is built on a solid plan and we will help you to identify and deliver the optimal solution.
We can also supplement your team at all stages of the restructuring, be that for specific projects or to accelerate progress.
How can we help?
We can provide individuals from the most senior to the most junior to lead or support your restructuring programme - from Chief Restructuring Officers, senior executives that sit on Company Boards, Interim FDs, PMOs, financial planning & analysis managers, cash managers & executive assistants.
With our internal and external network, we have specialists available for every opportunity.
Restructuring and recovery services aren’t just for businesses who have lost control and face insolvency, they are a way to proactively take control, in order to keep options open and ultimately refocus on longer term growth.
Typical activities include:
- Developing and executing your restructuring/turnaround plan
- Identifying causes of distress to implement turnaround work streams
- Improving profitability, including rapid cost reduction
- Stakeholder management
- Cash management & forecasting
- Crisis management
- Creating tech solutions
- ESG transformation programmes
How are we different?
We are well placed to deliver this support given:
- Significant restructuring experience from the largest UK restructuring practice and external turnaround professionals all experienced in supporting organisations through situations.
- Sustainable change driven by the fact we address the underlying issues.
- Flexible offering so we can tailor the seniority and duration of our support as well as our base location and our fee construct.
- Unparalleled reach means we can respond to a fast-moving restructuring throughout the UK and across the globe by working seamlessly with the wider PwC network and our extensive external network.
“From Chief Restructuring Officer and board roles to supporting your teams with additional resource, we have the expertise to deliver successful restructuring outcomes in complex situations.”
Relevant credentials
- Global retail and manufacturing business - CRO & PMO team
- A London Hospital - CFO/CRO
- Superyacht manufacturer - CRO
- Waste Management Company - Restructuring PMO
- Oil & gas safety equipment manufacturer - Hands-on support
- Retail and consumer goods group - Turnaround and project manager
Global retail and manufacturing business - CRO & PMO team
This international retail conglomerate with over 40 brands globally faced challenging and exceptional circumstances following the announcement of possible accounting irregularities and the resignation of the group’s CEO.
A PwC Partner, Director and team were seconded into the organisation to drive a debt restructuring process and more transparent financial reporting platform.
The team:
- Coordinated and implemented restructuring processes, including CVA workstream, corporate simplification, CoMI considerations & FCA requirements.
- Assessed the position of various underperforming businesses, including identifying options available to the group.
- Established responsibilities and governance arrangements for restructuring.
- Coordinated information requests from external stakeholders and providing clear information channels.
- Established an in-house central liquidity team and monitoring processes.
- Contingency planned to deal with local liquidity shortfalls.
- Implemented digital solutions to improve efficiency with reporting processes.
This resulted in short term liquidity support and a successful complex debt restructuring
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Contact us
Partner, Operational Restructuring & CRO+ Leader, PwC United Kingdom
Tel: +44 (0)7739 874619
