When should you think about hiring a turnaround professional?

Generally, we have found over many years of experience that the earlier we can engage with a client, the more likely we can preserve value and options and have a meaningful impact.  Signs that indicate a turnaround professional is needed include:

• When you no longer have confidence in the management team and need an objective assessment of the company.
• When cash management and liquidity issues are absorbing so much of management’s time that other areas of the business are starting to suffer.
• When financial trends appear to be continuing downward and management appears unable to focus on the key issues to develop a plan to effectively deal with the problems.
• When lenders or other stakeholders are questioning the company’s strategy or are losing confidence in management and demanding changes.