Turnaround and Restructuring Consultants: 18 Firms Compared

AlixPartners' Thomas Cook case says it was engaged to help as the travel company moved through restructuring and to plan for the restructuring failing, which it did. The compulsory liquidation began what the page calls the largest peacetime repatriation of UK citizens, with 140,000 travelers stranded, and AlixPartners reports that over £150 million was generated in its first three months. The case page is undated.

Its turnaround and restructuring page (opens in a new tab) says investors, creditors, law firms, governments and companies call in its team, and names active management of a 13-week cash flow model as a focus. Its interim management and CRO page (opens in a new tab) describes a CRO reporting to the CEO or board who transfers knowledge to staff and helps locate permanent candidates. A separate middle-market practice (opens in a new tab) is aimed at mid-cap companies.

Alvarez & Marsal acted as financial advisor to New Fortress Energy on two UK Restructuring Plans, sanctioned by the English court, that restructure more than $9 billion of debt, according to its June 2026 case. It says it had advised the company since October 2025, on restructuring, contingency planning, liquidity monitoring, tax and project management.

The firm's global restructuring page (opens in a new tab) says it has "a restructuring presence everywhere we operate". Tony Alvarez II and Bryan Marsal founded the firm in 1983. Its interim and crisis management page (opens in a new tab) says its people step in as chief restructuring officer, chief financial officer and chief executive officer for companies in crisis or underperforming.

Ankura advised the Government of Puerto Rico on the Plan of Adjustment that took effect in March 2022. Its release says the plan reduced central government debt from $34 billion to $7.4 billion.

The turnaround and restructuring page (opens in a new tab) says it works for distressed companies, governments and creditors. Its CRO page (opens in a new tab) describes experienced CROs who take senior executive roles in distressed companies and companies in transition, and its interim management page (opens in a new tab) covers filling a sudden gap in the executive team.

BRG reports two Turnaround Management Association awards for 2025. It was financial advisor to the unsecured creditors' committee in WeWork's Chapter 11 case, which won the large-company award, and advisor to the senior lenders of Heywood Healthcare, which won the non-profit award. Both roles were on the creditor side, alongside other advisers.

Its turnaround and restructuring page (opens in a new tab) says its people have served as CROs, responsible officers and trustees, and that its senior corporate finance professionals average over twenty years of experience. The interim and crisis management page (opens in a new tab) adds surge resources for budgeting, cash management and the monthly close.

FTI's Steinhoff story describes its role after the retail group's accounting irregularities came to light in December 2017: it was appointed financial advisor to the coordinating committee of the group's creditors. It reports that more than 90% of creditors, more than 100 financial institutions, locked into the agreement, and that 13,000 stores stayed open and 120,000 jobs were preserved.

Its turnaround and restructuring page (opens in a new tab) says its interim CEOs, CFOs and CROs "lead, negotiate and rapidly implement" restructuring strategies. The same page covers creditor advisory, insolvency, valuation, tax and compensation programs during a restructuring.

Argo Turboserve had completed an operational restructuring and sold non-core businesses when it hired Huron's broker-dealer affiliate, Huron Transaction Advisory, according to a July 2018 case. The affiliate ran a refinancing that drew multiple lender proposals within 45 days and closed a $70 million revolving credit facility. A second 2018 case, on Arcadia Services (opens in a new tab), describes the same affiliate selling a home care company out of receivership, with about 2,500 jobs expected to be preserved.

The restructuring and turnaround page (opens in a new tab) lists 13-week cash flow models, restructuring offices, lender negotiations, Chapter 11 preparation and experienced executives, including CROs and chief transformation officers.

Kroll was appointed chief restructuring officer of Telefónica del Perú after the company filed for insolvency in Peru, according to a December 2025 client story. It reports that 20,000 direct and indirect jobs were preserved, service continued for 13 million users, and the business was sold to a qualified operator within three months.

Its restructuring page (opens in a new tab) describes a team of 450 professionals who act as directors, CROs and insolvency practitioners, and says the practice has led restructurings totaling over $300 billion. It names an offshore practice in jurisdictions including the British Virgin Islands, Bermuda and the Cayman Islands.

Oliver Wyman's turnaround and restructuring page covers stabilizing performance, formal restructuring, viability reviews for lenders and investors, and liquidity forecasting. In May 2026 it announced (opens in a new tab) an agreement to acquire CR3 Partners, a firm specializing in transition, turnaround and distress, with 62 CR3 professionals joining. CR3's own site says it has joined Oliver Wyman, and the turnaround page read in October 2026 refers to the acquisition. The pages read name no turnaround client or case.

Accordion's October 2025 Air Pros case says it joined the heating, plumbing and electrical company as financial advisor in March 2024 and later became its CRO, after a failed sale and a default to its secured lender. With Jefferies and Greenberg Traurig, it led a court-supervised breakup into six separate sales that it reports generated about $145 million and preserved more than 95% of jobs. Its team also stepped in as interim controller after the CEO and CFO left.

Accordion's turnaround and restructuring page (opens in a new tab) describes work for private equity firms and their portfolio companies, from cash and liquidity problems to bankruptcy. The page notes that Accordion acquired Mackinac Partners in 2021.

CMA's experience page describes serving as CRO and interim CFO for Town & Country Living, a home textiles and décor company under liquidity pressure after its sponsor withdrew support. It says it oversaw daily cash management, restructured the finance function and ran a 13-week cash flow process.

Its turnaround page (opens in a new tab) quotes Bill Duncan, CEO of Mount Vernon Mills, thanking the team for its guidance through "the past 14 months". Its services page (opens in a new tab) quotes Tom Fricke, CEO of Bar Louie, on support "before, during, and after the bankruptcy process".

CMA is the advisory business of Carl Marks & Co. (opens in a new tab), which describes it as an investment bank providing financial and operational advisory services. Its turnaround cases can be filtered by CRO, interim management, company advisor and lender advisor roles.

Two DSI professionals were appointed CRO and deputy CRO of 1 Global Capital, a merchant cash advance company, managing a $300 million portfolio and a Chapter 11 plan process, according to a case DSI published in January 2021. Its case index (opens in a new tab) lists other roles, such as workout consultant to ABS Industries and then CEO of its two subsidiaries.

DSI's homepage says the firm has worked since 1976 for business owners, boards, secured lenders, bondholders and creditor committees, with offices in the United States and Europe. Its turnaround consulting page (opens in a new tab) lists crisis and interim management, bankruptcy fiduciary work, committee advisory and post-restructuring monitoring.

GlassRatner's restructuring page lists recent 2026 roles: financial advisor to the debtor for FlexShopper, plan administrator for Conn's, and out-of-court financial advisor to Diverzify. The same page shows industry awards, including "Middle Market Turnaround Consulting Firm of the Year".

It says it represents either debtors or creditors and often acts as a court-appointed fiduciary or trustee, with offices in the US, Canada and Mexico and services that include CRO and interim management.

Hilco's Pitney Bowes case (opens in a new tab), published in 2025, describes taking full operational control of the company's loss-making Global Ecommerce division. Hilco managed its Chapter 11 wind-down to a confirmed liquidation plan within four months, and the case lists its funding as "DIP Loan, Fixed-Fee Engagement". The case is Hilco Global's and does not name Getzler Henrich as the team.

Getzler Henrich, now Hilco's turnaround and restructuring practice, has worked with thousands of companies across more than 50 industries over its history, according to an October 2026 release (opens in a new tab) announcing the move to the Hilco brand. Hilco acquired the firm in 2021.

The practice page says it works for middle-market companies and their lenders, creditors and investors, and that its professionals step into CRO, interim executive, fiduciary or court-appointed roles. It can draw on Hilco's valuation, asset sale, capital and real estate businesses.

J.S. Held acted as assignee in an assignment for the benefit of creditors (an out-of-court alternative to bankruptcy) for an unnamed 50-year-old catalog and online retailer, according to a case it published in November 2024. It reports raising creditors' recovery "from zero to $2.5MM+".

Its strategic advisory group (opens in a new tab) combines Phoenix Management Services, Stapleton Group, MorrisAnderson and Steeplechase Advisors, with more than 80 professionals in the United States. The turnaround and restructuring page (opens in a new tab) lists interim CEO, COO, CFO and CRO roles, and its interim management page (opens in a new tab) says the team often helps with the search for a permanent executive.

M3's About page cites "hundreds of completed engagements" and shows logos, including Neiman Marcus, Camuto Group, CraftWorks and Philadelphia Energy Solutions, as "a sample of the major industries and clients for whom our team has successfully worked". Its founder's bio (opens in a new tab) lists CRO roles at Sears Holdings, Barney's and others over his career, without saying which were M3 engagements.

The turnaround and restructuring page (opens in a new tab) says its senior professionals have represented debtors, creditors and equity holders. Its interim management page (opens in a new tab) offers to fill a gap in management or fully manage a company's operations and finances while the client hires.

Portage Point's turnaround and restructuring page lists selected experience by client logo, including Mallinckrodt Pharmaceuticals, Blink Fitness, Mavenir, Digital River and Continental Batteries, without describing each engagement.

The page describes operational turnarounds and financial restructurings for the middle market and names a chief restructuring officer service. Its interim management page (opens in a new tab) offers leaders to "lead, grow, reposition and stabilize middle market companies".

Riveron describes serving as interim CRO for an unnamed automotive supplier whose key stakeholders required a change in leadership, through a footprint restructuring and the COVID-19 shutdown and restart. It reports settling substantial litigation claims without trials and keeping the leadership team and customers through the restructuring. At the end, it says, a full-time CEO replaced the interim CRO and the secured lender committed more than $100 million of capital.

Its distress page (opens in a new tab) says its restructuring professionals have managed hundreds of proceedings, out of court and in bankruptcy. The interim management page (opens in a new tab) offers interim CFOs, controllers and chief accounting officers as well as distressed-situation leaders.

SierraConstellation Partners says it was retained as CRO of NORPAC Foods, an Oregon farming cooperative with over $300 million in annual revenue, in June 2019. It reports putting a 13-week cash flow budget in place and reaching an agreement within two months for Oregon Potato Company to buy substantially all its assets in a Chapter 11 sale. After that stalking-horse bid was terminated, it reports managing the court auction that sold the operations to Oregon Potato Company and most of the real estate to Lineage Logistics. The senior secured debt was paid off in full, and an estimated 1,900 jobs were preserved.

Its turnaround management page (opens in a new tab) draws a line between a turnaround, which it says happens before insolvency, and a restructuring, which it says focuses on the balance sheet once a business is insolvent. It offers interim CEO, CRO, CFO and COO roles, independent board members and financial restructuring (opens in a new tab).