Disruption, in its many forms, has overtaken the traditional economic cycles to dominate the global markets. 

As cyclical patterns fade, individual markets and industries grapple with persistent change and multi-layered bouts of business turbulence. Many companies are still grappling with financial challenges and the threat of insolvency, and levels of resilience characterize the leaders from the laggards. 

In our annual survey, more than 700 of the world’s restructuring experts and executives tell us that the cost of capital is still the biggest factor driving company distress. 

However, that is just one part of the emerging story. Companies in many regions remain mired in the challenges driven by the rapid rise in the cost of capital, but other emerging trends in financing, the intertwined nature of industries, the impact of global conflicts, shifts in consumer sentiment, and the rise of artificial intelligence are all contributing to the need for greater business resilience. 

If the forces of disruption are finding focus, how can leadership teams caught in the eye of the storm activate a reality check and reconfigure a company for success? 

Our 2024 report features

  • The views of 700+ executives
  • Industry and geographic outlooks
  • Financing, geopolitics, and operational predictions
Download the full report


Research for the 19th Annual Turnaround and Transformation survey was conducted between 8 and 27 May, 2024. Respondents comprised 716 lawyers, investment bankers, lenders, sponsors, financial advisors, and other industry executives involved in corporate workouts representing more than 20 major industries globally, including the Americas, EMEA, and Asia. 

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