Focus on what counts

The COVID-19 Impact: Cash Management Triage with Industry-Specific Insights for CEOs

March 20, 2020
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The COVID-19 pandemic has us all living through uncharted territory with far-reaching implications, uncertainty, and significant disruption.  We watch the news waiting and hoping for a positive break - #social distancing is the new norm.  Today, no one has a silver-bullet; people are sick, the stock market is tumbling, businesses of all sizes are struggling, some closing, and unemployment is rising.  For the moment, one of the top priorities of business owners and CEOs must be the conservation of cash.

Citrin Cooperman’s industry leadership has come together to provide our insights for you around cash management strategies for consideration.  Let’s focus on the basics and strategically work together until this crisis abates. 

  1. Communicate with your bankers and consider... (read more)
  2. Review all existing contracts to determine whether they contain force majeure (literally, superior force) clauses. (read more)
  3. Stay close to your customers. (read more)
  4. In order to reduce or defer expenses, consider... (read more)
  5. For individuals and businesses with a federal tax liability, consider... (read more)
  6. There are many insurance considerations during this crisis including reviewing... (read more)

Industry-Specific Considerations


Construction
 

Franchising

Healthcare

Manufacturing and Distribution

Staffing

Real Estate