CRS Turnaround Management is the turnaround and business rescue service of Corporate Renewal Solutions, a black economic empowered management consulting firm based in Johannesburg, South Africa.
CRS is a Level One Contributor in terms of the dti's BEE Scorecard. For more information about our B-BBEE credentials, see About Corporate Renewal Solutions.
"Our business is turnaround of under-performing companies and business rescue of distressed companies."
As turnaround practitioners, we have since 1999 specialised in improving the results of under performing companies and saving distressed companies.
We work with companies in all stages of corporate decline - from emerging problems, to worsening and acute problems, to potential and actual insolvency.
We also provide access to private equity finance to fund business rescue plans.
Lastly, we support the turnaround and future business rescue industries by providing news, events, opinions, links, publications and industry association information.
"Strengthening the economy through the restoration of corporate value."
Our vision is to be recognised as a major contributor to strengthening the economy of South Africa through the restoration of corporate value.
We will achieve our vision by helping to turn around troubled companies in the informal sector, including working with banks and other financiers on workouts.
In addition, we will participate in the business rescue of financially distressed but potentially viable companies in terms of new business rescue legislation as contained in Chapter 6 of the Companies Act.
To find out more about our turnaround management philosophy, see About turnaround management.
View the restoration of corporate value at different levels of company health.
"Recession driven by international financial melt-down and credit crisis."
The private sector turnaround market remains constrained by lack of funding due to credit crisis. It is largely self-administered by companies as they cut costs and retrench.
New business rescue legislation has been implemented but is not operational yet.
In the public sector, turnaround activity has been high for years.
For more information on development in the South African economy and its impact on the turnaround industry, see turnaround market watch.
Click on the thumbnails below for enlarged views of graphs.
The SACCI Business Confidence Index in 2009 started to recover from its recession decline. It is, however, still far from its previous high.
The business confidence decrease relative to last year has bottomed out too.
For more information, see Liquidations statistics.
Also see the boxes on the right for turnaround events and news.
Our Turnaround consulting services services are aimed at the last two of the four levels of corporate health and decline:
"Turnaround of under-performing businesses."
"Business rescue of distressed companies."
Our turnaround consulting services include the following:
CRS Business Transformation helps healthy companies to proactively transform themselves in response to market-place events and changes in competitive forces (continual corporate renewal).
CRS Business Transformation helps moderately under performing companies, facing emerging problems and early warning signals of decline, to achieve and surpass industry performance standards.
View the Corporate Renewal Solutions services at different levels of company health.
1. Act on early warning signals of decline or distress
2. Is your business already under performing or facing a crisis?
3. Who should talk to us about turnaround solutions?
"It is easier to tread on an acorn than an oak tree."
World-wide, it is an established fact that recognising the need for turnaround action takes place too late and that provisional turnaround measures accomplish too little.
Companies tend to act to late to adverse trends in industry drivers of a political, economic, social, technological, legal and environmental nature.
The best time to talk to us about pre-emptive turnaround solutions is when you notice adverse movements in industry drivers, or at least when you notice early signs of decline or distress in your business.
Are your sales, market share, profit margins and working capital starting to decline? Are debt levels and management turnover increasing?
Are you starting to experience a general air of financial stringency, poor communication and housekeeping, low morale, managerial stress and organisational inertia?
"It is not too late for remedial action."
Perhaps your business is already facing a profitability, solvency or cash flow crisis.
Your situation may already be as serious as not being able to meet your financial commitments to creditors, or having breached loan covenants.
"Talk to us if you are under performing or in distress."
If you fall into one or more of the following categories, then you should talk to us about turnaround solutions.
Know when its time to speak to turnaround professionals.
"Management consultants can help up to a point."
If your business performance is sluggish or below par, there are many good management consulting firms that can help you transform your business, including increasing sales and reducing costs.
You may wish to talk CRS Business Transformation about strategic repositioning, reorganisation and improving the effectiveness of your value chain.
If your business is on a downward trend, however, and particularly if you getting closer to financial difficulty, you need to talk to turnaround consultants. Management consultants don't stabilise businesses.
Only turnaround practitioners can help you with the necessary emergency management actions and changing your leadership effectiveness to see a turnaround through.
"Turnaround practitioners are specialists."
And if you are already in financial distress, then your really need turnaround practitioner involvement.
And not only because they know how to source lending or investment funding for you.
Unlike management consulting firms whose stakeholder management is normally limited to leadership alignment and mobilising the organisation around change, a turnaround consultant will enable you to obtain support from all financial, organisational and commercial stakeholders, including the board, bank, suppliers and customers.
Additionally, a turnaround consultant is able to advise you on formal business rescue if your company is in financial distress, in terms of new business rescue legislation as contained in Chapter 6 of the Companies Act, implemented on 1 May 2011.
Our business is turnaround management.
3. More about CRS Turnaround Management
"We pride ourselves with being at the cutting edge of turnaround methodology."
We utilise turnaround tools and methodologies developed and honed over many years of successful practical application.
We keep up to date with the latest turnaround approaches world-wide, amongst other things by virtue of our membership of the Turnaround Management Association - Southern Africa.
"We helped both industry giants and small businesses."
Our past turnaround experience include clients representing a variety of industries in the private sector with annual turnover ranging from as small as R10m to as large as R5bn, as well as the public sector.
Go to turnaround consulting for more information about our turnaround workshops, and turnaround situation assessment, turnaround implementation, turnaround coaching and turnaround mentoring services.
Our turnaround management principles describe turnaround situations, turnaround stages, turnaround components, turnaround strategy and the turnaround plan.
About CRS Turnaround describes our turnaround experience, turnaround clients and past turnaround projects.
To learn more about our turnaround consulting services, download our CRS Turnaround brochure in the box in the left.
Go to About Corporate Renewal Solutions for our contact particulars and information about our team, associates, resources and networks.
As a result of our turnaround work, shareholder value has been protected and enhanced, creditor recovery rates have been maximised, and thousands of jobs have been saved.
"Describe your situation and needs online."
To enable us to best communicate with you about your needs, preposition us about your company issues by completing a secure online client profile submission form.
"Rapid evaluation of your situation."
Download, complete and email your CRS Turnaround Z-Score Excel spreadsheet ![]()
back to us to enable us to rapidly determine your state of health.
Click on a picture in the badge below.
View pictures as a side show by clicking on the button below (for best results, resize the page that opens to maximum size and reload):
Click on a picture in the badge below.
View pictures as a side show by clicking on the button below (for best results, resize the page that opens to maximum size and reload):
Needing help, but not requiring turnaround action?
Go to our business transformation and management consulting web site.
Secure online client profile submission form
To ensure a speedy response, clients can now preposition us about their company issues by completing a secure online client profile submission form.
Opinions on business rescue and turnaround
Jan van der Walt, CEO of Corporate Renewal Solutions, presents his take on new business rescue legislation and turnaround.
10 July 2011 |
Quoted in Sunday Times: |
27 May 2011 |
Launch of Neil Harvey's book Turnaround Management and Corporate Renewal. Chapters contributed by Jan van der Walt:
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26 May 2011 |
Managing a Turnaround and Corporate Renewal Venue: Wits Business School, 2 St. David's Place, Parktown, Johannesburg, 2183 Brochure: Managing A Turnaround And Corporate Renewal 2011 "A Turnaround Practitioner's View on New Business Rescue Legislation" |
| 15 September 2010 | Opinion on Khaya Ngqula's role in SAA's turnaround results. |
16 - 17 August 2010 |
Listen to the BNPC Turnaround Seminar Interview with GABZFM Radio broadcast on 11 August 2010. Newspaper clips:
Venue: Botswana National Productivity Centre (BNPC) headquarters, Gaborone, Botswana. |
7 July 2010 |
Turnaround Management Association - Southern Africa Lecture Series Johannesburg. "A Point of View on Business Rescue 2" |
12 May 2010 |
Turnaround Management Association - Southern Africa Lecture Series Johannesburg. "A Point of View on Business Rescue 1" |
6 May 2010 |
Managing a Turnaround and Corporate Renewal, Wits Business School. Johannesburg. "Business Rescue: A Turnaround Practitioner’s Perspective" |
7 Dec 09 |
Cape Town. " |
14 Oct 09 |
Audit, Risk and Governance Summit '09 "New business rescue legislation as per Chapter 6 of the new Companies Act" |
29 Sep 09 |
Johannesburg. " |
| 16 Sep | Leadership excellence and corporate governance conference |
18 to 20 Aug 09 |
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30 Jul 09 |
Corporate Governance Forum 2009: "Analysing the importance of business rescue legislation and its implications for your company" |
CRS's new business rescue web site at www.business-rescue.co.za
CRS has launched CRS Business Rescue, a site dedicated to our business rescue service offering, and Chapter 6 of the Companies Act No. 71 of 2008.
Brochures
CRS Business Transformation brochure |
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What is new?
South Africa's ineffective judicial management system is to be replaced by modern debtor-friendly business rescue legislation. The expected implementation date is end 2010. This is good news for the turnaround industry, which hitherto could not operate within an appropriate legal framework that prevented financially distressed but economically viable companies from going into liquidation unnecessarily.
Business rescue is dealt with in Chapter 6 of the Companies Act No. 71 of 2008.
To read more about this very important development in the turnaround industry, go to Business rescue legislation.
If you are looking for a better understanding of turnaround within the legislative business rescue framework, read business rescue in South Africa.
The Turnaround Management Association - Southern Africa (TMA-SA) is negotiating with TMA, its international parent body, to launch its CTP programme in South Africa with Services SETA as its implementation partner.
For more information, see Turnaround industry news.
Want to find out more about our team and associates?
Go to About Corporate Renewal Solutions or contact Jan van der Walt.
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Talk to us about company turnaround solutions and turnaround private equity funding.