Accepting the reality of a corporate crisis can be significantly painful. However, as Phoenix Management’s Jim Fleet and Bob Gowens point out, options for help are available — and if a distressed company is willing to face the real truth behind its underperformance, it can reverse the downward spiral and return to strength.

When a company is headed for trouble, all stakeholders share the added risk. Directors and top management are often aware that problems exist, yet they delay in correcting them. This denial is often veiled in stubborn corporate pride. Yet it renders board members and even upper management unable to recognize the key warning signs that suggest a company is on its way toward trouble. Yet, all is not lost. There are ten common early warning signs that mark a company heading for trouble.