A Turnaround In The Turnaround Industry

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OK, let’s face it... We continue to experience a downturn in the turnaround market. There just has not been enough business for crisis managers and turnaround consultants. This may be good news for economists, but it certainly does not bode well for turnaround consultants. Last week a good friend of mine, who has made a wonderful living as a turnaround consultant and has done wonderful things for distressed businesses, decided that he is leaving the industry. It is time for him to pack his bags and move on to the next stage of his life. This may all sound fine and good, but is it really for the best? Will we no longer need those professionals who have chosen to leave the industry?

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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