Desperate Times Call for Effective Turnarounds
BCG
NOVEMBER 11, 2016
We refer to these as turnaround and restructuring efforts. At this point, the company starts burning through cash reserves and needs to launch a turnaround. . Failure to do so—and continuing to burn cash—leads to the third and final phase: a liquidity crisis, in which the company may soon lack the financial resources to keep operating.
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