Covid-19 and Business Restructuring

These are not normal times.

For many companies, business has slowed down or stopped and revenue has declined sharply. Even for those in relatively good condition, there are affects from the general slowdown. Customers are hurting, so there could be a slowdown collecting receivables and an increase in uncollectables. And, many companies find that their supply chain is a mess, with interruptions jeopardizing the attempt to resume or continue production.

I work with managers to diagnose problems and help them explore ways to resolve often very difficult issues. I help develop a blueprint for curative actions, anything from pricing changes to modification of debts to disposal of a line of business. For years I have been a member of the Turnaround Management Association, an organization focused on corporate renewal. Click here to see my recent profile in the TMA’s monthly magazine, The Journal of Corporate Renewal.

While decisive action is sometimes required, there are times when staying the course is exactly the right thing to do. I help make those calls.

The key for restructuring is an independent, dispassionate assessment and a logical response, well-communicated to all parties.