Triage Before Turnaround - Part One: Ensuring Sufficient Short-Term Cash is Available
When a business is in distress, it is imperative that its leadership stabilize and gain control of the situation to afford time to implement a successful turnaround plan. Performing timely and effective triage on the ailing company will secure the best outcome in a turnaround or restructuring.
Paul Denton, Vice President in the Insolvency & Restructuring practice of Farber Financial Group has written a four-part article detailing key actions and priorities necessary to stabilize a distressed business. Following these steps will preserve and maximize the resources needed to survive in the short term and should assist in implementing a successful turnaround.
The first and possibly most important step in preparing for a turnaround is to ensure that sufficient cash is available to fund short-term needs and to fund a possible restructuring process - Please click here to read the first installment in Paul’s series. The other three 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.
Please click here to read the steps to ensure that sufficient cash is available to fund short-term needs and to fund the restructuring process - the first step preparing for a turnaround.
Farber has five service pillars. 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, Crisis & Interim Management
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Fraud, Forensic & Asset Recovery
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Corporate Finance, Valuations, Succession Planning & Transactions
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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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