Corporate Restructuring
EPS Investing helps businesses address financial pressure, improve operating performance and strengthen governance through practical restructuring plans and hands-on implementation support.
Rebuilding the Foundations of Business Performance
A business can have established customers and a viable market while still facing persistent cash flow pressure, declining profitability or an organization that struggles to execute.
Debt obligations may no longer match operating cash flow. Receivables and inventory may absorb too much capital. Costs may rise while margins weaken. Unclear responsibilities and fragmented information can make these problems harder to resolve.
Restructuring may be needed to stabilize a business under pressure, restore performance or prepare for a new stage of growth, investment or ownership.
The starting point is to understand what is causing the pressure, which parts of the business remain viable and what needs to change across finance, operations, organization and governance.
EPS works with owners and management to identify the underlying issues, set priorities and turn the restructuring plan into actions with clear responsibilities and measurable milestones.
Our Corporate Restructuring Scope
Each engagement focuses on the changes the business needs and has the capacity to implement. The scope may include:
- Financial restructuring: assess liquidity, debt obligations and the capital structure; develop cash flow priorities and evaluate options to better align financing with the needs of the business.
- Working capital improvement: address receivables, inventory, payment planning and cash forecasting to reduce cash tied up in operations.
- Operational restructuring: review profitability, cost drivers and execution bottlenecks; redesign processes and resource allocation to improve operating performance.
- Organization and governance: clarify the organizational structure, management responsibilities, decision authority and accountability for results.
- Business and asset portfolio review: assess which activities and assets support the future direction of the business and develop options to refocus resources.
- Management information and controls: strengthen budgets, reporting, performance indicators and internal controls so management can identify problems and act sooner.
- Implementation support: translate agreed priorities into a coordinated action plan, work with the responsible teams and review progress against financial and operational milestones.
ERP, data and automation may support implementation where they help improve financial visibility, process discipline and execution.
From Restructuring Plan to Implementation
A restructuring plan needs to reflect the cash, people and time available to execute it. EPS works with management to connect immediate priorities with the changes needed to improve performance over time.
- Diagnose the situation: review financial information, operating performance and management practices to understand the causes of underperformance.
- Address immediate pressure: identify urgent cash flow needs, operating risks and decisions that cannot wait.
- Build the restructuring plan: define actions, owners, resource requirements, timelines and performance targets.
- Work with the team: support implementation across finance, operations and management, and help resolve issues as they arise.
- Review and adjust: track cash flow, working capital, profitability and agreed operating indicators, then adapt the plan as needed.
The objective is a business with greater financial resilience, clearer accountability and a stronger foundation for sustainable performance.
How an Engagement Can Begin
The starting point depends on the severity of the issues, the information available and the decisions facing the owners and management. EPS can begin with a diagnostic review or a clearly defined restructuring priority.
Business Diagnostic and Priorities
Review the financial and operating position, identify the main causes of pressure and agree on priorities. The output is an assessment of key issues and a recommended course of action.
Restructuring Plan
Develop a coordinated plan covering the relevant financial, operational and organizational changes. The output includes an action roadmap, assigned responsibilities, milestones and a framework for monitoring results.
Implementation and Progress Reviews
Work alongside management to implement the agreed plan, review performance and address execution challenges. The level of involvement is defined around the needs and internal capacity of the business.
Selected Restructuring Experience
EPS’s approach draws on Le Trung Nam’s experience in senior finance and leadership roles. Steel Builder and Construction Joint Stock Company 47 (C47) illustrate his work across financial management, governance and business operations.
Steel Builder
His experience at Steel Builder included financial and organizational restructuring, improvements to management practices and ERP implementation. This work brought together financial management, operating processes and the information needed to run the business.
Steel Builder also raised capital from a Thai investor, making it a relevant reference for both restructuring and capital raising.
Construction Joint Stock Company 47 (C47)
His leadership experience at C47 included leading corporate restructuring and working across governance, finance and operating performance. The case illustrates the need to coordinate financial and organizational changes with the realities of business execution.
C47 also provides a reference for financing experience, including convertible bond issuance, alongside the restructuring work.
When to Consider Corporate Restructuring
A restructuring discussion is relevant when recurring problems begin to affect financial stability, operating performance or the ability to move the business forward.
- Cash flow remains under pressure even when revenue is stable or growing.
- Debt repayments and other obligations are becoming difficult to match with operating cash flow.
- Profitability is declining and the causes are not being addressed effectively.
- The organizational structure and decision-making process are slowing execution.
- Costs or underperforming activities are absorbing resources needed elsewhere.
- Receivables and inventory are tying up too much working capital.
- Financial reporting and management information do not provide a clear view of performance.
- Previous improvement efforts have not resolved the underlying problems.
- The business needs to strengthen its financial and governance foundations before seeking capital or a strategic partner.
- A change in strategy or ownership requires a coordinated restructuring effort.
Where new capital or an ownership transaction forms part of the restructuring plan, EPS can also support the business through its Capital Raising & M&A Advisory service. The two services can be engaged separately or together, depending on the needs of the business.
Lead Advisor
Le Trung Nam
CEO, EPS Investing
Le Trung Nam has more than 30 years of experience in finance, investment, management and corporate restructuring. He previously worked at the State Capital Investment Corporation (SCIC) and later held senior roles including Chief Financial Officer, Chief Executive Officer and Chairman at multiple companies, including joint ventures and listed companies.
In corporate transformation and restructuring assignments, he has worked directly across finance, organization, management and operations, including ERP implementation at Steel Builder and leading the restructuring of Construction Joint Stock Company 47.
He holds a Master’s degree in Economics from the University of Economics Ho Chi Minh City (UEH), completed the Fulbright Economics Teaching Program (FETP), a program developed through cooperation between Harvard University and UEH, and received training in innovation and business management through programs supported by the Governments of Finland and Germany.
Discuss Your Restructuring Priorities
Tell us about the financial, operational or organizational challenges facing your business and the changes you want to achieve.