Businesses fail - some spectacularly and suddenly others more gradually over time. In some
companies business decline can be turned around or at least delayed. In many others there is no
option other than business closure. Over the past twenty years the rate of business failure has
accelerated. Insolvency rates are high not just for small businesses but also for large well
known public companies. Identifying possible causes of business distress is now recognised as
an important agenda item. Creating the capacity to bounce back from such distress - business
resilience - has become a priority. The authors blend their own practical experience academic
research and a systematic analysis of recent high profile cases including Flybe Group Plc
Arcadia Group Ltd Carillion Plc NMC Health Plc and Thomas Cook Group Plc in a review of
potential causes of business distress and key resilience drivers. This is presented in detail
in separate chapters covering business purpose board effectiveness the quality of strategic
planning financial stewardship risk management business turnaround strategies and director
duties in times of business distress. The book sets out a practical benchmarking framework in
the form of a toolkit with a series of detailed evidences - performance indicators - that
companies can use to assess potential business distress and build a resilient company.
