Alameda CA-January 25, 2002-Troubled companies
usually wait too long. Some wait because they really don't want
anyone to know they are in trouble. Troubled companies usually
need to get more cash, need help in handling difficult problems,
need to straighten out that horrible mess that landed them in
so much trouble to begin with, and need to build profits and
value. It begins with denying the problem and can rapidly progress
to what is known in the Professional Troubled-Company Specialist
field as "siege mentality".
"Many of them will end up like Enron because they don't
reach out to specialists for advice", notes Roger Farber,
a Senior Director at SageGroup Strategies, Inc. "Companies
who find themselves troubled, fearing bankruptcy or big losses
this year contact us. Several positive alternatives are available
if they move forward right now to get out of trouble. There
are many, many more out there that don't call for guidance
and soon will find themselves in even worse situations", states
Mr. Farber.
When it gets overwhelming and these companies really can't
handle it anymore, they may look for a Specialist in Turnaround
Management or Crisis Management to give them advice. "The
difference between a Turnaround/Crisis executive type and
a Professional Troubled-Company Specialist is that the Professional
Troubled-Company Specialist has applied Troubled-Company approaches
and procedures to over 100 troubled companies already. They
really know what they are doing from having done it so many
times before". continues Farber.
Traditionally, Professional Troubled-Company Specialists
fight the crisis.They solve the urgent financial problems
by various means including helping the troubled company raise
new financing. They assist the troubled company avoid insolvency
and collapse by improving management and operations, and taking
other steps to eliminate losses and to move forward. ABOUT
SAGEGROUP STRATEGIES SageGroup Strategies is the largest Professional
Troubled-Company Specialist firm in the United States and
the World. Notably experienced and knowledgeable in this type
of work, they pride themselves on being extremely discreet,
working with the highest of confidentiality and behind the
scenes whenever necessary. They have been involved in hundreds
of troubled-company situations including: turnarounds, crisis
management, debtor programs, spinouts, restructurings and
reorganizations. As part of its strict confidentiality policies,
SageGroup has never disclosed or publicized the names of their
clients. www.SageGroupStrategies.com
Roger notes, "Our basic objective is to do everything legally
possible to assist the troubled company in getting out of
trouble. As part of this, a related very important objective
is to protect the assets, reputations, careers, emotional
and mental states, marriages, and freedom of the key involved
individuals from the personal risks of civil lawsuits, IRS
and other regulatory agency actions, criminal prosecutions
and adverse publicity".
Specializing in these types of complex and sensitive situations,
SageGroup is already experiencing a surge of inquiries as
a result of the recent Enron situation.
