State of Distressed Debt: Weber, Aguirre on Attaining Owner DNA
“Troubled businesses don’t turn around on a dime. They took years to get messed up. They got worse through the restructuring when they were capital-starved,” observed Jon F. Weber, founder of Jon F Weber & Co. “A lender should not have the expectation that, upon pouring in liquidity and improving the capital structure, they’re going to immediately improve. We’re in the reality business... We have to establish what can be realistically achieved with a 70%-80% probability and align awards, budgets and all of those things around those outcomes.” Weber and Jon F Weber & Co. board director Alvaro…
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