Four steps to an effective restructuring

August 23, 2017
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Some businesses are facing painful decisions—like undergoing a financial and operational restructuring. If they’re short on time and money and can’t complete a restructuring out of court, then filing for bankruptcy might be their only option.

At a glance

  • The best route to a favorable outcome is early contingency planning for multiple scenarios.
  • First, assemble a team of experts who are familiar with restructurings and who can guide you through your options.
  • Second, get a clear picture of your cash flow.
  • Third, map out your options and start viewing the business through a legal entity lens.
  • Fourth, start implementing the plans—and remember that managing the first-day motions is critical.