Ultimately, it is all a question of balance. While optimism is important, there also needs to be proactive steps in place to mitigate risk, and getting in as early as possible and seeking advice is key.
Time is of the essence for sculpting those effective communication strategies to engage and persuade stakeholders to give companies more time and money, as well as building confidence and trust back up.
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The tide is going out and if directors do not want to drown, they need to ensure they grab that life raft before it is too late.
Roger Hutton is a partner in business insolvency and restructuring at Clarion
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