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When a company falls on hard times, the underlying difficulties have generally been in play for some time and management has reached a point where it can no longer overcome them.
At this point, several tasks usually need to be undertaken simultaneously:
- ensuring cash for short-term survival,
- cutting costs to a basic minimum,
- implementing a redeployment strategy,
securing medium-term financing
All of this while remaining responsive both to the company’s usual partners and a host of new faces on the legal, financial and administrative fronts.
In such cases, X-PM begins by diagnosing the company’s operational and financial health. It subsequently pilots the restructuring plan at ground level, directly assumes the role of Chief Restructuring Officer (CRO) and rounds out the management team by appointing high-calibre managers to the most critical posts.
In addition to mastering the technical aspects of the restructuring process, X-PM’s proven expertise in mobilising managers and restoring team and partner confidence plays a major role in ensuring the success of these efforts
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