Most underperforming businesses have at least one thing in common - they destroy enterprise value. Underperformance is not selective; it has the same wealth destroying implications for both private and public companies.

If enterprise value destroying performance persists, key stakeholders must take decisive action. Inevitably, major change is required to avoid eventual corporate failure. The management of a distressed situation requires urgent and decisive action. Turnaround experience is vital if a distressed company is to survive. Allegiant Financial Group has the experience and track record to deliver the skills and resources to ensure the turnaround is successful.

Allegiant Financial Group's turnaround approach is an integrated, "action orientated" process. The approach includes the following stages:

• Diagnosis

• Stabilization

• Development of turnaround strategies

• Development of implementation plans

• Implementation

• Business renewal

The approach is flexible and tailored to the individual requirements of each engagement - which may lead to certain stages of the process being more or less prominent.

Turnaround strategies usually involve a combination of the following initiatives:

• Organizational and structural re-orientation

• Product market refocusing

• Revenue generation

• Cost reduction

• Divestment of under-performing business/assets

• Acquisition of new businesses/assets

• Financial restructuring

Ultimately, it is the implementation of the strategies that will determine success or failure. Allegiant Financial Group's "hands on" approach includes:

• Stabilization of the immediate crisis

• Management reporting to key stakeholders

• Determination of the turnaround plan with key management

• Management of resource selection and allocation

• Management of operational and strategic issues

• Monitoring turnaround performance