Insights and reports

Navigating the Pandemic and Beyond: The Contribution of Turnaround to Business and People

Written by Nicolette Stickland on December 8, 2021

In a normal business cycle, the reasons why businesses need turnaround support are many and varied. Since the beginning of the global pandemic, many businesses have been heavily reliant on government support which has meant that although the number of companies in distress in 2020 continued to rise during the pandemic, insolvencies fell by 27 per cent when compared with 2019.

In this report, Navigating the Pandemic and Beyond: The Contribution of Turnaround to Business and People, we highlight the huge contribution IFT members make and the value they create for society and the economy.

We estimate that in 2020 IFT members and corporate partners saved more than 200,000 jobs and protected £2.9 billion in enterprise value. The report analyses the profound impact which the pandemic has exerted and continues to impose on the economy and businesses, at a time when business recovery is even more important to the economy and people.

Our research, conducted during the Covid-19 disruption, highlights how we expect Covid-19 to drive higher demand for turnaround services for the remainder of 2021 and beyond.

To download the report please click here.

For press information and media enquiries please contact:

Michael Evans

Director

Byfield

+44 (0)7732 148 511

michael@byfieldconsultancy.com

Turnaround, the economy and people

https://www.the-ift.com/wp-content/uploads/2024/05/The-IFT-jobs-saved.svg

56K Jobs

Members of The IFT saved an estimated 56,000 jobs in 2023-24.

https://www.the-ift.com/wp-content/uploads/2024/05/The-IFT-shares-up.svg

£3.1 Billion

IFT members helped add £3.1 billion in shareholder value in 2023-24.

https://www.the-ift.com/wp-content/uploads/2024/12/Business-icon-updated.png

80% busier/as busy

Over 80% of IFT members reported being busier or as busy 2023-24 compared to the previous year.

https://www.the-ift.com/wp-content/uploads/2024/05/The-IFT-help.svg

62%

Over 60% of stressed companies don’t know they are in trouble until it is too late.

Similar Articles

Recent cross-border uses of Part 26A Restructuring Plans

Recent cross-border uses of Part 26A Restructuring Plans

Since the Corporate Insolvency and Governance Act 2020 entered into force, case law relating to its Part 26A provision has...

The IFT Quarterly Update Q4 2024:  spike in retail sector turnaround activity and continuing pressures for construction sector

The IFT Quarterly Update Q4 2024: spike in retail sector turnaround activity and continuing pressures for construction sector

The IFT’s quarterly snapshot for Q4 2024 showed a sharper increase in turnaround and restructuring activity in the quarter, with...

The IFT Review of 2024

The IFT Review of 2024

You can find The IFT’s Review of 2024 here. This includes a summary of our events, research and other projects...

Swift – Awards Edition 2024

Swift – Awards Edition 2024

Our Awards edition of Swift for 2024 can be found here.  This includes interviews with and insights from this year’s...