Business turnaround experts call struggling firms that still have potential "workouts."
Not surprisingly, this is a terrific time to acquire a floundering company and turn it around. Anyone who attempts this, however, must have a strong stomach and a strong grounding both in the industry and in entrepreneurship.
One expert told me that anyone aquiring a workout should have an "MBA." Not a master's of business administration, but a "massive bank account"!
See what some other experts have to say in my most recent Smart Answers column.
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