How to Deal With a Company in Financial Distress

By: Todd Feuerman

The banking crisis and economic recession have created a new playing field for construction firms in which margins are extremely tight, bid lists are expansive, larger and non-local contractors are entering unchartered territories and construction firms are trying to identify ways to stabilize the financial viability of their businesses. With all of these factors at play, it is no wonder that more companies are exposed to financial distress due to risk concentration, deteriorating margins and an inadequate amount of work to cover fixed operating costs.

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Todd A. Feuerman is a director in the audit, accounting and consulting department of Ellin & Tucker, and chairman of the firm’s construction services group.