In our attempts to be polite, everything recession-oriented has the strapline “survive and thrive”.  My book… workshops run by accountants… and seminars run by banks, business support organisations and consultants now give everything the S&T tagline. Sometimes we reverse the letters so it is T&S!

Turnarounds are normally thought of as involving businesses which have fallen into distress or crisis as the result of an inexorable process of underperformance and decline. In fact a large proportion of the cases that turnaround firms actually deal with are companies which are actually doing very well in terms of increasing sales, and sometimes even profits. The issue in these cases is that they have become victims of their own success as excessive rates of growth has led to overtrading.

Dealing With Financial Overtrading

1 When are you buying and who from?

You may decide to buy assets from a distressed company which is not in any form of insolvency process and is still under its directors' control.