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We can estimate the dollar value of companies needing restructuring inside the Top-25 accounting firm ecosystem by combining three things: 1. Number of distressed companies (from the prior estimate) 2. Typical size of middle-market companies served by Top-25 firms 3. Typical debt levels 1. Distressed company count From the previous model: ● Distressed companies: ~50,000 – 90,000 ● These are firms with covenant breaches, liquidity issues, or lender negotiations. 2. Typical com

REPRESENTATIVE CASE STUDIES (ANONYMIZED) Manufacturing Group – $120M Liabilities A multi‑jurisdictional manufacturer faced imminent insolvency due to covenant breaches and supply chain disruption. EWA negotiated a standstill with senior lenders across three countries, restructured $120M in obligations, and installed interim leadership. The company returned to profitability within nine months. Logistics Company – Liquidity Crisis A regional logistics provider experienced sever

Typical Revenue Range for U.S. Boutique Restructuring Firms 1. Small Boutique (3–10 professionals) Annual revenue:~$2M – $15M Typical profile 1–3 senior partners with restructuring backgrounds Focus on middle-market companies ($10M–$200M revenue) Engagements often include: Turnaround consulting Independent business reviews (IBRs) CRO placements Small Chapter 11 advisory Typical economics Monthly advisory fee: $50k–$250k Success fee: $250k–$2M 5–10 active engagements annually

The U.S. restructuring advisory market is surprisingly fragmented, with a small number of very large firms and hundreds of boutique specialists serving distressed companies. Here is the best industry estimate. Number of Restructuring Firms in the United States Core restructuring advisory firms Industry directories and consulting rankings suggest: ~300–500 specialized restructuring / turnaround advisory firms operating in the U.S. ~50–70 nationally recognized firms 3–5 dominan