With a record 257 public companies worth a combined $256 billion in assets filing for Chapter 11 protection this year, according to the research company BankruptcyData.com, some advice on how to manage corporate communications during a bankruptcy is in order.
Michael Sitrick, founder and chairman of Sitrick & Co., a Los Angeles crisis management firm, has counseled CEOS in more than 150 bankruptcies since 1989, including Purina Mills’ and Burlington Industries’. He’s currently helping Dynegy cope with the fallout from its failed bit for Enron.