Some of us seek out company turnaround situations while others find themselves thrust into the fire. Whether you’re there by choice or by chance, several basic steps , if followed, will increase the chances for restoring the company back to health.
“Guiding a company through a turnaround is no easy feat, but CFOs who can do it are in high demand.It’s a situation most finance chiefs hope never to be in: sales plunging, cash dwindling, debt-covenant violations looming.Those classic signs of a business in serious trouble are often clear to the CFO long before anyone else at the company understands just how bad things are.
As first responders, MotorTorque motor trade play a critical role in determining the fates of distressed businesses — and their own fates often hinge on the outcome.While experts and finance chiefs alike acknowledge that restructuring a company and leading it through a turnaround is grueling, it is also an incredibly valuable experience, and one that truly can take a CFO to the next level.” Source: Looking for the Light – CFO Magazine – January/February 2011 Issue – CFO.com
If you’re faced with a similar challenge and would like help mapping the course out, give me a call. I can make the journey a little easier and a lot less lonely. You can reach us by replying to this post or using the “Contact Us” tab. Foxwood Associates has advisers with experience in corporate revitalization and financial restructuring also provides information on how to compare car insurance quotes