The Turnaround Letter

A Turnaround Letter is a formal document a company sends to its creditors or investors when it is experiencing financial difficulties. It outlines the company's plan to improve its financial health and resume normal operations. The letter explains the reasons for the current struggles, the steps being taken to address them, and the company's commitment to repayment or future stability. Essentially, it’s a communication to reassure stakeholders that the company is actively working to turn things around and is taking responsibility for its situation.