A turnaround plan becomes essential when:
A turnaround plan needs to be based on a comprehensive understanding of the issues that the business faces, a judicious assessment of its prospects, and it needs to reflect the impact of the financial distress that it faces. A good plan will have a clear articulation of strategy following rigorous analysis of major available options, a solid set of actions linked to implementation plans and a detailed set of financial forecasts. The plan will often be reviewed by the lenders' advisors.
By combining strategy and operational expertise with deep financial expertise and knowledge of the European recovery market we can help management agree and deliver robust turnaround strategies. By working with management we ensure that the turnaround plan is a credible roadmap for achieving sustained improvement in operating and financial performance with maximum consensus of management and stakeholder objectives. Our deep situational turnaround credentials are complemented by both consulting skills and the mindset to create a joint problem-solving approach.
Where necessary, we can also draw on the extensive skills of other Deloitte specialists such as our Consulting, Business Modelling, M&A and Tax teams, as well as having access to an international network of turnaround experts. This combination of skills and expertise has enabled us to deliver multiple successful engagements.