Turnaround & restructuring / Chief Restructuring Officer

Chief Restructuring Officer

Also known as a “crisis manager”, the CRO is an experienced manager both in the ordinary management of the company and in the activities that characterise the restructuring processes, whether liquidation or continuation proceedings.

Our professionals can intervene effectively in crisis management by taking on the role of CRO, assessing the situation and assuming delegated powers in the company, if the case requires it.

The CRO, in addition to coordinating the joint efforts of the entrepreneur, management and advisors, is primarily responsible for implementing the recovery plan (which is often formally requested by creditors).

The company in which the CRO is called to act, almost always suffers from a financial problem and therefore, the CRO’s first task will be to understand how to guarantee continuity, managing the cash flows with the utmost attention.

The CRO’s activity is based on the business plan, which must translate the crisis resolution strategy into actions and, in the case of bankruptcy proceedings, will be accompanied by a financial package to be proposed to creditors.

The CRO’s job becomes even more important in the implementation of the plan itself, and in verifying that the company is making all the necessary “corrections” defined in the turnaround phase.

Main activities

  • Coordination of the work of the entrepreneur, management and advisors
  • Protection and management of liquidity
  • Identification of the crisis resolution strategy
  • Verification of the implementation and execution of the business plan
  • Assessment of the need for insolvency proceedings
  • Preparation of a possible financial manoeuvre to be proposed to creditors