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The corporate story

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The corporate story

The remarkable case of Essar Steel: how it turned around operationally during the insolvency process

Resolution professional Satish Gupta and US turnaround specialist Alvarez & Marsal (A&M) played a key role in Essar Steel’s insolvency resolution, which paved the way for lenders to recover INR42,000 crore. ET Prime documents how Gupta and A&M deftly steered the company through the crisis, cut costs, and improved operational efficiencies during the resolution process to win over potential buyers.

31 Dec 20190 comment
The corporate story

The remarkable case of Essar Steel: how it turned around operationally during the insolvency process

Resolution professional Satish Gupta and US turnaround specialist Alvarez & Marsal (A&M) played a key role in Essar Steel’s insolvency resolution, which paved the way for lenders to recover INR42,000 crore. ET Prime documents how Gupta and A&M deftly steered the company through the crisis, cut costs, and improved operational efficiencies during the resolution process to win over potential buyers.

31 Dec 20190 comment
The corporate story

The decline of a corporate giant: After Thomas Cook, is Cox & Kings destined to face its Kodak moment?

Soon after Thomas Cook’s 178-year-long journey came to an end last month, the industry was abuzz with speculation that Cox & Kings was next in line. Early signs of trouble had been evident ever since the company defaulted on a payment in June. In the age of tech disruption, the Mumbai-based tour operator’s decline sends out a clear message to corporate giants — adapt quickly or become obsolete.

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