For a successful company turnaround you need the following:

• A recovery strategy, quickly available financial resources, professional advice and first class management.
• Agreement by existing stakeholders and management to accept change and compromise for a benefit arising in the future.
• Urgent remedial actions followed by a period of stabilisation. Stakeholders can then make informed decisions based on the best available information and advice.
• Experienced turnaround managers to bring about the change and deliver the strategy
• A swift and adequate refinancing structure to provide the financial muscle to meet the future business needs.

© Interimconnect 2009 and its licensors. All rights reserved.