More than two months of nationwide shutdowns have taken a toll on the nation’s economy, deteriorating optimism from earlier in the year among lenders. Michael E. Jacoby and Jessica Zwirzina walk through the results of Phoenix Management Services’ quarterly “Lending Climate in America” survey to capture the current sentiment.
The COVID-19 pandemic has created pessimism in the U.S. economy’s near-term performance, according to a survey from Phoenix Management. The survey revealed 100% of lenders expect an increase in bankruptcies and loan losses.
Lenders believe the coronavirus pandemic will be the leading economic driver in 2020, according to a survey from Phoenix Management.
Brian Gleason of Phoenix Management Services details how executives must display the most important tenets of leadership to survive the economic turmoil caused by the novel coronavirus (COVID-19) pandemic.
New England Motor Freight voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of New Jersey in Newark. Phoenix Management Services will serve as the company’s restructuring advisor through the bankruptcy process.
While lenders carefully scrutinize companies seeking to borrow money, borrowers rarely exercise the same due diligence to screen potential lenders. No one embarks on a business venture planning to fail, but it does happen. Bayard Hollingsworth advises borrowers to investigate the ways lenders handle a deal that goes wrong before accepting other people’s money.
Predictor of Success Following a Turnaround: Discipline Tools Can Keep a Company Afloat After Restructuring
Completing the restructuring process is a challenge for both a company and the turnaround professional who guides it through. Yet some companies may show signs of failing a second time. Brian Gleason illustrates how using the discipline tools introduced during turnaround can keep the ship afloat, even in rough waters.
Phoenix Management Services announced that Michael Jacoby, senior managing director and shareholder of the firm, will be inducted to The American College of Bankruptcy as a fellow.