Depending on the extent of a company’s financial and management woes, a business turnaround may not always be possible. Bill H., a business consultant in NYC, asks: “How do I determine if a distressed business I am being asked to help is just too far gone to save?”
As a consultant, you can first ask these questions:
By asking these questions and consulting the right professional teams, you can better determine if a business turnaround is possible.
This 90 Second Lesson is based, in substantial part, in material reprinted from Commercial Bankruptcy Litigation 2d and Strategic Alternatives for and Against Distressed Businesses, with permission of Thomson Reuters. For more information about these publications, please visit www.legalsolutions.com.]
©All Rights Reserved. June, 2021. DailyDACTM, LLC
The editors and editorial board of DailyDAC include preeminent restructuring and insolvency professionals, journalists, and editors. They are devoted to providing reliable and plain English education and deal intelligence about assignments, corporate bankruptcy, receiverships, out-of-court workouts and similar topics.
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