As market volatility, tariffs and global economic pressures continue to impact businesses across industries, turnaround and restructuring professionals are increasingly focused on helping companies navigate uncertainty before challenges become crises.
In a recent conversation with 2026 TMA Global Chair Rachael Smiley of FBFK Law, Winston Mar of CR3 Partners shared his perspective on today’s distressed investing environment, the management issues commonly facing underperforming companies and why trusted professional relationships remain one of the most valuable assets in the industry.
Mar noted that while macroeconomic pressures are affecting many businesses, the greatest differentiator between companies that successfully stabilize and those that struggle is often the strength and decisiveness of management. He discussed the importance of operational discipline, including customer and SKU rationalization and the value of intervening early enough to avoid forced transactions or distressed sales.
The discussion also highlighted the role of trust in successful restructuring engagements. Mar explained how tools such as the 13-week cash flow model help leadership teams better understand their company’s trajectory and make informed decisions during periods of stress. A central theme of the conversation was the importance of professional relationships built through TMA. Mar emphasized that trusted connections with attorneys, accountants, lenders, and advisors allow professionals to work together more efficiently, eliminate learning curves, and ultimately create better outcomes for clients.
For emerging professionals, Mar offered practical advice on networking and career development, encouraging NextGen members to begin building relationships early. While networking can feel time-intensive early in a career, he noted that investing in those connections now creates long-term opportunities, referrals, and collaboration throughout one’s professional journey.
This interview is part of a 10-part series produced by Second Wind Consultants / Rise Alliance, highlighting the people and perspectives shaping the turnaround and restructuring industry.