When firms are on the brink of failure only turnaround management can restore performance & profitability. The key is to provide stability & create cash (and a breathing space) for building long-term success. This fully revised edition provides practical advice on restoring confidence through effective leadership & planning. It highlights the importance of communication with stakeholders staff customers & suppliers & how best to structure the capital base of an organization in order to fund recovery & future growth. Essential reading for chief executives consultants & merchant bankers (as well as investors tracking the progress of ailing businesses) this book offers a definitive set of tools & techniques.