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Best Practices for Turning Around Distressed Companies: Effective Communications and Outreach Protocols

When a company has liabilities that will be difficult to meet with current or projected cash flows, it’s imperative to understand the degree of capital gaps and the potential impact. Are there impending events that can trigger a covenant breach? How will any revolving line of...

Best Practices for Turning Around Distressed Companies: Success Stories

In this installment, I will discuss a few success stories of companies where I implemented this process. A $50M public telecommunications company had a successful turnaround from a $4.5M loss to a $2M and $2.8M profit in the following two years by: Reviewing their existing...

Best Practices for Turning Around Distressed Companies: No One Likes to be Surprised

It’s important for all key stakeholders to be aligned, and that means talking to people outside of the company. This can be difficult to do for a variety of reasons, but swallowing your pride and having tough conversations with outsiders is crucial for a successful turnaround....

Best Practices for Turning Around Distressed Companies: The First Steps

In my practice, I meet many business owners and CEOs that, unfortunately, didn’t spot the signs that led to their company being on the verge of insolvency or bankruptcy. There are several signs that a company may be in distress, including strained financial resources, demoralized...