A company in distress, whether bankrupt or nearing bankruptcy, often needs help to get back on track and turn their company around. Often when a company is in this situation they will contact a turnaround specialist such as the Dunn Consulting Group. The Dunn Consulting Group will devise and execute a plan to renew your company.

Your company may have a variety of causes for it's crisis. See our list below to see if you fit into a category:

• Revenue downturn caused by a weak economy
• Overly optimistic sales projections
• Poor strategic choices
• Poor execution of a good strategy
• High operating costs
• High fixed costs that decrease flexibility
• Insufficient resources
• Unsuccessful R&D projects
• Highly successful competitor
• Excessive debt burden
• Inadequate financial controls

There are a few different ways a business may go about turning around their business:

Emergency action plan - achieve positive cash flow as soon as possible by eliminating departments, reducing staff, etc.

Business restructuring - once positive cash flow is achieved, the strategic plan is implemented, improving continuing operations, adjusting the product mix and repositioning products if necessary. The management team begins to focus on achieving sustained profitability.

Return to normalcy - the company becomes profitable and the changes are internalized. Employees regain confidence in the firm and emphasis is placed on growing the restructured business while maintaining a strong balance sheet.

A common method is to manage the asset, debt and cash flow of a company in order to maximize returns to secured creditors and allow the company to return to profitability and keep its employees.

Sell your company or exit the market

A possible solution may be to sell the company, or its assets to a third party thus allowing the continuation of the business and keeping employees employed.