The Comeback Playbook: How Strategic Communications and Branding Drive Corporate Turnarounds

We Love a Comeback Story

America loves a comeback story. In business, some of the most impressive comebacks happen through Chapter 11 or large out-of-court recapitalizations. These processes allow companies to address financial distress, reorganize their balance sheets, and emerge stronger than before. The key to success isn’t solely fixing the balance sheet – it’s owning and telling the story of the comeback and positioning the company’s products or services successfully.

The Big Picture

A successful restructuring is a combination of rebuilding perception and trust in the business and the financial engineering of the company’s balance sheet.

• Strategic communications is critical to ensuring key stakeholders stay confident and invested in the company’s future.
  • Transparent and targeted messaging reassures employees, customers, investors, and suppliers that the company isn’t just surviving – it’s charting a path to thrive.
  • Without effective communication and branding, uncertainty fills the void, eroding trust and damaging reputations.
• Brand and reputation management must be prioritized during and after the restructuring process.
  • Effective positioning of the company’s products and services in traditional media and across social platforms enhances value.
  • Stakeholders need to see the business not as a failure but as a fighter – a company positioned for a comeback.
• A dual communications strategy is essential:
  • Proactively engage with the media to manage the narrative and minimize sensationalism.
  • Use owned channels, like social media and direct communications, to amplify the company’s strengths and long-term vision.

Between the Lines

The media loves a scoop – and thrives on drama.

• Coverage often focuses on failure, asking who’s to blame and speculating on collapse.
• Companies in restructuring must counter this by taking control of the message, highlighting resilience, innovation, and strength.

Strategic communicators must balance the delicate dance with journalists while building a narrative that resonates with stakeholders.

• With the media: Provide access and accurate information to shape balanced, accurate coverage.
• Through owned channels: Create direct communication strategies to bypass noise and share the company’s comeback story on its terms.