Debtor Services

Operating a deteriorating business is emotionally demanding on the staff, management, and ownership. Traditional business education and most business experience does not cover the daily demands of a distressed business. Established relationships become strained; cash flow and credit problems disrupt supplies, services, payroll, and regulatory payments. The experience often leaves staff with a desire not to work under such conditions which impacts turnover. Consequently, few develop the techniques and experience to manage these challenges.

Understanding the difference between the businesses demise and the personal consequences is critical. Our advice to debtors is “there is nothing wrong with failing, just don’t permit it to become personally catastrophic through inaction”. Know when to act.

The path forward may seem daunting, but the company's path and the debtors must invariably diverge at some point. A career dedicated to developing and maintaining an operation can establish emotional barriers to the leaderships ability to recognize this decision point and act.

Turnford has years of experience in managing these complex situations across a broad range of industries. Our team dedicates the resources to understand the root causes and develop pragmatic, holistic approaches for mitigation that aims to address the broadest cross section of affected parties without compromising the claimant hierarchy. This approach has been a key component of our recovery performance record.