Insight & Issues

Paul Denton - Triage Before Turnaround - Part 2: Leadership

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In the first part of this four-part article, we discussed that the first step in the triage of a distressed company preparing for a turnaround is to ensure there is sufficient cash available to fund short-term needs and to fund the restructuring process.

In part two, we’ll look at how by focusing on your management team, you can stabilize the overall situation of a distressed business.

"As we all know, ineffective management can cripple a company…or can paralyze a crippled company," says Paul Denton, Vice President in the Insolvency & Restructuring practice of Farber Financial Group, the author of this four-part article detailing key actions and priorities necessary to stabilize a distressed business. "If a company is in distress, leadership is required to assess, mobilize and motivate, and move forward with talented and tough individuals who are committed to righting the ship."

Please click here to read the second installment in Paul’s series. The next two parts will be circulated over the next few weeks.