Past turnaround projects
The CRS Turnaround team has at CRS Turnaround or before played leadership roles in a large number of turnaround projects over many years.
Turnaround assessment projects
CRS Turnaround has conducted numerous turnaround situation assessment projects on distressed and underperforming companies on behalf of banks, holding companies and management.
These assessments led to turnaround management programmes, inclusive of debt repayment programmes, or when not viable, to liquidation.
Many smaller turnarounds have been conducted by coaching management through the process of stabilisation, funding and restructuring.
Turnaround projects
The list below contains a representative list of typical larger turnaround projects of longer duration:
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Corporate Renewal Solutions is presently conducting a turnaround of this severely distressed company caught in a margin squeeze between declining sales and rising costs. A team of 6 turnaround practitioners and turnaround consultants are working with 6 client counterparts responsible for streams of work including stabilisation, leadership, operations, plant and equipment, strategy, sales and marketing, financial, procurement, organisational alignment, stakeholder management and project management.
Determined the causes of distress of a strategic, organisational and operational nature across the different investment stages, and recommendation a new business model.
Advised this company on stabilisation measures and was instrumental in obtaining new equity funding against a turnaround plan.
Stabilised, funded and started fixing this business in the capacity of Deputy MD leading a team of 5 consultants. Three CRS Turnaround consultants took line management positions as Financial Director, marketing manager and HR manager, and another was co-opted onto the Board of directors. Funding was obtained from the client's bank and the business rescue process was completed by selling to the company to a listed company.
Stabilised the business on contract to a prospective black empowerment buyer group.
Following the suspension of 6 senior executives, stabilised this loss-making business during its emergency management phase in the capacity as acting Managing Director to allow consultants a window of opportunity to formulate a turnaround strategy.
Project-managed a multi-disciplinary consulting team tasked with the development and implementation of a business strategy and performance management system that would support the financial turnaround required to make the business profitable. The business became profitable within 12 months.
In the capacity of Interim CEO , and leading a team of 6 consultants, stabilised and turned around this distressed company that was facing closure by its bank. Funding was obtained from the client's bank and the World Competitiveness Fund.
The company was returned to profitability and positive cash flow within 3 months. The overdraft decreased by 75% over 9 months and the company was sold after one year, realising substantial gains for its shareholders and with 100% loan recovery by the bank.
Advised a R5bn p.a. turnover agribusiness and its consortium of bankers on a workout strategy. The business returned to its core business and posted dramatic turnaround results which received wide press coverage. Furthermore, project managed a multi-disciplinary team tasked with the development and implementation of a turnaround strategy within the R2bn trade division.
The trade business, which has never been profitable, lost R60m in the past financial year and projecting similar losses for the following financial year. Instead, after 12 months a R20m profit was posted.
Project managed a multi-disciplinary consulting team that stabilised a distressed company in partnership with a bank and a new management team.
Led the turnaround in the capacity of Deputy MD, utilising groups of consulting firms to overhaul every aspect of the business.
With two members acting as Interim Deputy MD and Deputy Chairman respectively, and leading a team of 8 consultants, turned around a R400m turnover FMCG subsidiary of a listed group. The company, which has been in the red for 8 years, became profitable within 2 months, and gained 10 percentage points market share in 7 months' time.
Project managed a multi-disciplinary team tasked with the development and implementation of a turnaround strategy for this loss-making business in a consulting capacity.
Stabilised, refinanced and turned around this group in the capacity is Managing Director.
Stabilised and restructured this subsidiary of a listed group in the capacity of General Manager.