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Services / Restructuring and Turnaround

Restructuring is a tough challenge for the entire Company.
Shareholders, Managers, Suppliers, Customers, Lenders, struggle every day with the difficulties due to some awful situations. Management is usually consumed to continue running the day-to-day operations of the Company, trying to implement any possible organizational and financial restructuring to solve the problems and looking for the right balance of the interests of the various stakeholders.

While the issues at hand are “everyday business” for our Specialists, these are often “new” for any “normal” Company Management. Very few corporate Executives get used to such critical restructuring situations in the course of their careers. As consequence those unfamiliar with these challenges could easily become overloaded for them.

In these Business Transformation needs, Duke&Kay provides cover of the whole process or any individual phase. Duke&Kay Restructuring and Turnaround practice offers critical support to Companies that are in any different possible stages of the distressed situations: from “simply underperforming” to a “deep crisis” condition to the “urgent need of refinancing”.

In these situations our Managers share a practical, clean, results-oriented mindset that understands that errors are not allowed. Our Executives work side-by-side with the Company management in a dynamic restructuring environment to balance competing priorities; just anticipating unforeseen risks and opportunities and, most important, communicating with key constituents - including creditors and investors – showing that the Company is running over important steps to address its problems and maximize its value.
Duke&Kay Executives work with the Management Team, in cooperation with other trusted Advisors, to set up the Business Plan, discuss and share with the identified Expert (when occur) and even running the current operations. Moreover we work with Stakeholders and Lenders to reach the Restructuring Agreements.

Managing a distressed company requires bringing together specialists, such as workout bankers, financial advisors, lawyers expert in Bankruptcy Laws, for some long negotiations, with key Stakeholders. Once reached the Agreements, Duke&Kay can immediately deploy the Industrial Plan where each Executive of the Restructuring Team assumes a specific responsibility as CRO, CEO, CFO etc. as agreed/dictated by the situation.

Duke&Kay Team often plays a critical role; in fact while the Chief Restructuring Officer and the other Executives, alongside the internal management, take over the Restructuring leadership (just for the minimum requested period) managing the various stakeholders, the internal management team continues to oversight of day-to-day business operations. These coordinated activities dramatically increase the likelihood of a positive outcome for the Company, its employees and all the other stakeholders.

Our experience shows the Chief Restructuring Officer (CRO) can ensure that everyone works together and aligned to get the requested changes in the organization, with a transparent dialogue with all to lead the project to success.

By experience we have seen the CRO may take different kind of assignment, according to the purpose of the intervention/project, and therefore would have different responsibilities, from the pure Observer to a extremely powerful Board Member.

Duke&Kay Executives are usually committed as Board Members with ordinary and/or extraordinary powers.

Duke&Kay has a team of 52 experienced Managers based on a specific assessment of the needs, combining industry and issues competence:

1. Our experts in Restructuring held positions as Chief Restructuring Officers, empowered with the appropriate powers, sitting in the Boards of distressed Companies

2. Our Business and/or Functional
experts (used to distressed conditions) held positions like CEO, CFO, COO etc.  sitting in the Boards, empowered with the appropriate powers as requested by the incumbent needs and/or the Stakeholders.

All of them have a track-record of success in corporate restructuring for Companies and Stakeholders in different industries.

By doing the above, Duke&Kay never created overlaps with other Advisors; on the contrary, over these years, our Executives and Managers have successfully created valuable and effective cooperation with all them, just delivering the recommendations of the agreed Plan.