When businesses go bust, the economic fallout can be catastrophic. Individuals – and sometimes large parts of the community – lose their jobs. Vital services cease overnight. Enterprise value – a vital underpinning of a dynamic economy – is lost.
In this report, Unlocking Value, Saving Jobs: The Contribution of Turnaround to Business and People, we shine a light on the huge contribution IFT members make and the value they create for society and the economy.
IFT members preserve jobs and livelihoods, uphold local industries, protect economic value and strengthen public service organisations. In this report, we estimate that in 2019 IFT members and corporate partners saved more than 200,000 jobs and protected £2 billion in enterprise value.
Our research, which predates the Covid-19 disruption, also shows that in 2019 over 130,000 companies in the UK were showing signs of distress. We expect the spread of Covid-19 to drive higher demand for turnaround services for the remainder of 2020 and beyond. That is why this report broadens understandings of turnaround as an essential business discipline that can help avoid unnecessary insolvencies, especially at a time when business recovery is even more important to the economy and to people.
To download the report please CLICK HERE.
