Restructuring
A set of actions designed to fundamentally change a company’s organisation, activities, or financial structure to improve competitiveness or restore viability. It may include business disposals, workforce reductions, refinancing, or strategic refocusing.
In practice
Preventive restructuring — for a viable but financially stressed business — consistently delivers better outcomes than curative restructuring triggered by imminent insolvency. French preventive procedures — the mandat ad hoc and the conciliation — allow confidential negotiation with creditors. Triggering these procedures 12 to 18 months before a cash rupture leaves sufficient time to find lasting solutions without the pressure of formal insolvency proceedings.