Loan Losses and a Lender’s Stages of Grief

How Turnaround Pros Can Guide Lenders from Depression to Resolution By Patrick Walsh for ABF JOURNAL Now and then, despite due diligence and careful underwriting, a loan goes bad. Patrick Walsh describes the five stages of grief that a lender passes through when a loss seems imminent and suggests ways that a turnaround professional can help the lender work through these stages and achieve a positive outcome. Read the article…

Cedar Croft Consulting Business Turnaround Strategists

How should business owners respond when a lender says they need help?

Contributed by Patrick Walsh The one message no business owner ever wants to hear from a lender is:  “While we’d like to be supportive, we are concerned enough about your business to advise engagement of one of our selected turnaround consultants–who can further assist you in identifying and addressing some of your operation’s critical needs. ” Let me make this clear: THIS message doesn’t just happen out of the blue. It…

The Communication Protocol: An Important Component of a Business Turnaround

Whenever a turnaround management consultant is engaged, there are many stakeholders interested in hearing about their findings.   By Patrick Walsh Whenever a turnaround management consultant is engaged, there are many stakeholders interested in hearing about their findings.  Management as well as owners want to know what the consultant plans to do and why, and when positive results can be expected.  No doubt about it, they are concerned about managing the costs associated…

Winning Strategies for Retailers in a Profit-Challenged Omnichannel World

Insights on industry trends, issues, and opportunities.  Amid continued announcements of store closings and liquidations, there is some truth in the assertion that technology has changed everything, created disruption and eroded profitability. However, technology can also boost profitability by driving sales and improving margins, improve the use of working capital, and reduce indirect costs. These solutions have already been validated by innovative companies serving both retail and consumer packaged goods…