Triage Before Turnaround - Part Two: Management & Leadership
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.
Please forward this email to any CEOs, CFOs, COOs, senior managers, boards of directors or financial or legal advisors who might find the information valuable. This brief article is not a substitute for customized professional advice, so please contact Paul at 416-496-3773 or click here for Paul's bio and contact details on our website.
For more information or to speak with someone in one of our service areas, please click on the appropriate link below:
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Insolvency & Restructuring
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Turnaround & Interim Management
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CFO Resources & Profit Enhancement
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Fraud, Forensic & Asset Recovery
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Corporate Finance, Transaction, Valuations & Succession Planning
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Personal Bankruptcy & Consumer Proposals
About Farber Financial Group
Since 1979, Farber Financial Group has provided a range of specialized financial services including corporate insolvency and restructuring, forensic accounting, fraud investigations, corporate finance, mergers and acquisitions, divestitures, business valuations, distressed financial advisory services, corporate financing, turnarounds and crisis management, interim CEO, COO, CRO and CFO management, profit enhancement and strategic opportunity assessments. A more complete description of these services may be found on our website at www.farberfinancial.com.
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