WORKOUT AND TURNAROUND
PROCESS
There are six steps in the workout and turnaround process.
They follow each other in sequence and although the crisis
manager may double-back on step number five to re-examine the information and conclusion he or she filed away in step number one, the sequence must be followed in a systematic manner for the company to be rehabilitated outside of a Chapter 11 filing or liquidated in Chapter 7.
Extracted from a book titled: RECESSION BUSINESS STRATEGIES by Prof John C. Mbuya
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#crisis #turnaround, #liquidation
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