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Situation

Turnaround and restructuring

Turnaround work is where interim leadership is most obviously the right instrument. The mandate is intense, short and specific, and it frequently requires someone with no history in the business and no relationships to protect.

The first job is almost always cash visibility. The second is credibility with lenders. Everything structural comes after those two.

What this calls for

  • Immediate thirteen-week cash visibility and control over outflows
  • Lender and creditor negotiation with a defensible plan behind it
  • Cost base restructuring, including the employment cost of doing it
  • Reporting the board and the bank will believe
  • A stabilisation plan with milestones somebody is accountable for

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