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Corporate Renewal & Turnaround Services

Baker Tilly works with companies to design and execute a comprehensive turnaround plan to help mitigate risk and improve operations during an economic downturn.

When your business is faced with performance challenges and the environment is uncertain, Baker Tilly’s turnaround professionals offer the experience, skills and insights necessary to be a guiding force in your turnaround and corporate renewal.

    Prior to March 2020, the U.S. economy was experiencing the longest economic expansion in history. A period that culminated into peak earnings and peak leverage. All the hallmarks were in place: significant M&A activity, recapitalizations, IPOs, new start-ups and general growth investments. Business plans and capital structures were set for continued growth.  Worldwide pandemic, COVID-19, brought a halt to the growth, which led to a sudden shock in demand as 36 million American lost their jobs, causing significant strain on businesses. Along with figuring out how to keep their employees and customers safe, otherwise successful businesses are now confronted by:

    • Sharp revenue declines
    • Liquidity challenges
    • Inability to forecast
    • Debt Covenant violations
    • Management turnover
    • Misaligned or bloated cost structures
    • Financial reporting challenges

    The pandemic isn’t the only trigger that can lead a company into distress. Companies could also be facing distress due to labor shortages, strikes, natural disasters, seasonal fluctuations, market saturation, incorrect financial forecasting, high development expenses, obsolete portfolios, insufficient investments, or deficient quality or management control.