Bercy selects 22 consultancies for restructuring framework agreement

23 February 2021 Consultancy.eu

The French ministry of Economy and Finance – also known as ‘Bercy’ – has appointed over twenty consulting firms to its national framework agreement for restructuring and turnaround services.

Against the backdrop of the economic havoc created by Covid-19 and the pandemic-induced downturn, the number of insolvencies in France is expected to jump in 2021, especially after government support measures are phased out as the economy returns back to ‘normal’.

The government’s new framework agreement names the preferred suppliers for the French finance ministry and related central government agencies in the case they need to brings in external restructuring expertise. Interest in the contract was high, with more than 60 tenders sent in by consultancies for consideration.

Ministry of the Economy and Finance

Following the competitive pitch, a total of twenty-two firms were selected across the six different lots, spanning strategic restructuring services, operational restructuring services, financial audit, fundraising, recovery solutions, and legal restructuring support. The contract runs for two years, with a potential extension for another two years.

Appointed to the framework are several heavy-hitters in the French consulting industry, including McKinsey & Company, Roland Berger, three of the four Big Four giants (Deloitte, EY and PwC), restructuring specialists Alvarez & Marsal and AlixPartners, as well as home grown players such as Eurogroup Consulting and Sia Partners.