Of all of the ridiculous 200 or so turnarounds icebreakerexec have led Patisserie Valerie is extraordinary: the board failing to recognise the signs that there was a cash flow issue yet a HMRC winding up petition: that is a symptom of a LONG standing cash flow issue so for that not to be raised… This shows what we consistently find: the psychology of board governance needs resetting because its only by getting the thinking right you can identify what and how to challenge flawed statements. Common plausible statements are often bonkers. It probably has aspects of the hubris syndrome: too much success for too long… that creates blindness to the signs of trouble too. This would have been evident in the (hidden) dialogue at board level. A www.winningthinking.uk session would have given the board the tools to identify and resolve these issues to prevent a surprise like this. This is getting worse because i think our actions pushing tech / political correctness and other weird flawed responses to the challenges we face are generals: at the root of killing businesses. Interesting & only scary of you don’t know what to do? If you are interested to resolve your board governance / prevent this ever from happening give me a bell, or.., 🙂 cheers Tom
https://www.ft.com/content/3ab490d8-cdf4-11e8-b276-b9069bde0956?emailId=5bc05fb7f3ce2b0004707b71&segmentId=3d08be62-315f-7330-5bbd-af33dc531acb
