Turnarounds and Workouts
Bankruptcy & Restructuring
Out-of-Court Restructuring and Workout Counsel for Businesses, Lenders, and Stakeholders
WH Burkley advises companies, lenders, and stakeholders on turnarounds and out-of-court workouts. We help clients address financial challenges early, stabilize operations, and implement practical solutions that preserve value and avoid unnecessary disruption. With experience across Ohio, Pennsylvania, and multi-jurisdictional matters, we provide strategic, business-focused guidance to navigate uncertainty and position organizations for recovery.
When an out-of-court resolution is not achievable, we are prepared to transition matters efficiently into Chapter 11 or other formal proceedings. Because we are involved early, we are able to preserve momentum and position our clients for the best possible outcome.
Turnaround and Workout Services
• Consensual workouts and debt restructurings
• Amendments, waivers, and forbearance agreements
• Liquidity analysis and contingency planning
• Multi-party negotiations with lenders, creditors, and stakeholders
• Restructuring of trade obligations, leases, and vendor arrangements
• Pre-negotiation planning for prepackaged or prearranged Chapter 11 filings
Proactive Restructuring Strategies
• Improve liquidity and cash flow
• Renegotiate debt and contractual obligations
• Preserve enterprise value
• Maintain key stakeholder relationships
• Position the business for long-term stability
Lender & Stakeholder Negotiations
• Negotiation of restructuring support agreements
• Intercreditor and stakeholder coordination
• Covenant restructuring and debt modifications
• Resolution of contested workout issues
Our Approach
- Align turnaround and workout strategies with each client’s business objectives and financial priorities
- Evaluate practical alternatives to stabilize operations and avoid unnecessary disruption
- Coordinate among lenders, creditors, owners, and other stakeholders to facilitate workable solutions
- Focus on preserving enterprise value, liquidity, and long-term business viability
- Prioritize responsiveness, clear communication, and steady execution
Why WH Burkley
- Experience guiding businesses, lenders, and stakeholders through complex turnaround and workout situations
- Practical strategies designed to preserve value and avoid unnecessary insolvency proceedings
- Strong negotiating capabilities with lenders, creditors, investors, and other stakeholders
- Seamless transition from workout negotiations to Chapter 11 or other restructuring proceedings when necessary
- Responsive, partner-level counsel focused on business continuity and long-term recovery
Recognition
Best Law Firms | Cleveland
- Band 1 – Litigation – Bankruptcy
- Band 1 – Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law
- Band 1 – Banking and Finance Law
- Band 1 – Commercial Transactions / UCC Law
Best Law Firms | Pittsburgh
- Band 1 – Litigation – Bankruptcy
- Band 1 – Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law
- Band 2 – Litigation – Commercial
Best Law Firms | US
- Band 2 – Banking and Finance Law
- Band 2 – Litigation – Bankruptcy
- Band 2 – Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law
*Certain recognitions displayed on this page were earned prior to the formation of WH Burkley LLP and may reflect the accomplishments of our legacy firms, Walter Haverfield LLP and Bernstein-Burkley, P.C.