WORKOUTS & TURNAROUNDS
Turnaround management is one of the most intense and trickiest engagements for a strategic advisory firm. Turnaround management traditionally refers to the financial recovery of a company that has been performing poorly for an extended time. It may also be applicable to companies who are seeking to go to the next level of growth.
In order to effect a turnaround, a company must acknowledge and identify its problems, consider changes in management and develop and implement a problem-solving strategy. In some extreme cases, the best strategy may be to cut losses by liquidating the company rather than trying to turn it around. Once a company ceases denial and embraces its issues the opportunity for success exists.
Many times a company is seeking to return to its glory, in others it may be seeking to achieve success and greatness for the first time. Strong knowledge of reorganizational strategies and associated options are the critical elements to Pallas when assisting companies achieve turnaround success.