There are a number of factors that could lead to a business needing a turnaround.
Regardless of the general economic backdrop, an unexpected shock to the company or overtrading can strike at any time.
However, the combination of a rapidly evolving technological landscape, changing customer demands, Brexit, and of course the COVID-19 pandemic, is sure to have long-lasting effects on many businesses.
That's why our market-leading Restructuring & Insolvency team has contributed to “Turnarounds – Seizing New Opportunities” - a new publication produced by Lloyds Banking Group and Bank of Scotland.
It will guide you through the process of undergoing a business turnaround, covering everything from:
- how to stabilise your business;
- building stakeholder support;
- determining the right restructuring options
- rebuilding your team;
- positioning yourself for growth and building resilience.
While a turnaround is no doubt a challenging experience, the process can also bring significant opportunities for businesses to pivot, adapt and find their place in the new economy - whether that’s by embracing digitisation and Industry 4.0, focusing on going green or introducing more agile working practices to suit the modern workforce.
We hope you find the guide valuable, and if you wish to discuss any aspect of it don’t hesitate to get in touch.
Click here to download your copy of “Turnarounds – Seizing New Opportunities”
Written by
Michael Thomson
Partner
Restructuring & Insolvency
Allana Sweeney
Partner
Restructuring & Insolvency
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