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Quick Medicine Helps Cure Businesses in Distress

According to the Turnaround Management Association, only 20% of distressed businesses recover. You can imagine what that means for the other 80%; they limp along as a shadow of their former self or they disappear into another firm or into the bankruptcy process.

That high number traces back to one thing – not acting soon enough.  A recent client of ours waved the white flag while the last few dollars were headed out the door. We went straight from health issues into cardiac arrest.  Clearly, their previous two internally-lead turnaround efforts  hadn’t worked. Read the rest of this entry »

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