Business Turnaround

Turnaround specialists are a relatively new breed in the international business world, but in this era of rapid, painful change, their service has become more and more in demand. Increasing competition, fast-changing technology and shifting financial markets have created a climate where no business can take economic stability for granted.

At Nordens, we’re proud to be Turnaround Specialists, Company Doctors, Business Rescue or whatever you wish to call us. We work with the business owner(s), temporarily taking over the company’s decision-making process in order to guide it back toward profitability and safety.

Why?

Downsizing has taken a toll on many small and large companies. The accelerated pace of change has turned once-successful business owners into sometimes hesitant managers, no longer able to provide strong leadership to their struggling business.

While downsizing has reduced employment costs and improved economic health, it has also lead companies to reduce their senior management teams, leaving a core of senior talent which is supplemented with senior independent executive talent on an ‘as and when needed’ basis. Twenty years ago, companies carefully groomed managers to assume positions of top management, but today can find themselves short of the executive talent that might have diagnosed difficulties ahead.

Changes in interest rates and cultural differences elsewhere have also increased the need for turnaround management. Banks cannot forcibly take control of client companies in serious financial peril. Today the courts view this action as equity participation forcing banks to stay clear of direct involvement with corporate management.

Therefore a whole industry has evolved which is dedicated to dealing with businesses in trouble. Nordens Turnaround team provides expertise over a broad spectrum from recovery, cash-flow and financing through to the actual turnaround of an ailing concern.

What are the Advantages of appointing Nordens Turnaround Team?

  • We enter each company with a fresh eye, knowledge and skills, and we enjoy complete objectivity. Nordens Turnaround team can spot problems and create new solutions that may not be visible to company insiders, simply because they are too close to the subject.
  • Nordens has no political agenda or other obligations to colour the decision-making process, allowing us to take the necessary steps for survival from corporate insolvency, liquidation, CVS, company administration or receivership.
  • Experience within a particular industry may mean little when a company is facing bankruptcy and loss of revenue. Nordens Turnaround brings experience in these crisis situations. Like a paramedic, the talent lies in making critical decisions quickly in order for the patient to have the best chance at recovery.
  • Operating in the eye of the storm, Nordens will deal equitably with angry creditors, scared employees, wary customers and a nervous director(s) or board of directors. With the highest stakes on the table, clearly this is no assignment for the faint-hearted.

 Questions to consider before getting in touch 

For a troubled company, no decision may be more critical than hiring a turnaround manager. Yet, with all the pressures and distractions taking place within the company, this decision comes at the worst possible time. Think about:

  • What exactly is the ultimate goal of appointing Nordens Turnaround team?
  • Is that goal – and other targets – in writing?

Contact us here if you would like to get in touch with the Nordens Turnaround team.

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