Definition of Turnarounds

Turnarounds involve saving an insolvent or potentially insolvent business from terminal insolvency and returning the business to a stable financial and operational position.

This is achieved at the same time as maximising creditors’ interests and, wherever possible, the interests of employees, managers and owners (shareholders).

Turnarounds are achieved by a combination of financial, crisis management, restructuring and insolvency skills and experience.
For the purpose of this article, turnarounds include the turnaround of both under performing businesses that are merely not achieving their full potential, and businesses that are either insolvent or potentially insolvent.

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Addressing the fundamental lack of available risk capital that can be applied quickly in a financially distressed business

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