The Turnaround

Gregory K. McDonough

Bankruptcy is often seen as the end of the road for a broken business: an admission of failure. But despite the stigma surrounding it, bankruptcy can actually allow a company to restart, renew, and improve—as long as it’s done right.

When Gregory K. McDonough faced his own professional “death spiral,” he took a deep dive into the bankruptcy process and realized that bankruptcy could help revive his business. Now, he draws on his knowledge as a Certified Insolvency and Restructuring Advisor and his personal experiences to create a practical guide to staying mentally and strategically strong while navigating bankruptcy. The Turnaround provides vital information and coaching on the key elements of the process, including the following:

  • What bankruptcy means
  • When to declare bankruptcy
  • How to make hard decisions
  • From whom to get help
  • When to dissolve
  • How to protect your personal life
  • What plans to put in place to rebuild

Going bankrupt does not mean giving in. With the right plan of action, commitment, and mind-set, it can be the first step in turning a bad situation into a positive outcome.

Press & Praise

Warren Rustand, CEO, Tycon Inc.

"The Turnaround gives entrepreneurs a powerful tool to make lasting change to their business and life."

Jeff Hoffman, cofounder of ColorJar and a serial entrepreneur who was on the founding teams of and

"Greg's determination to never give up is an inspiration for business owners across the world."

Don Britton, founder and CEO, Network Alliance

"Watching Greg successfully maneuver the nuances of a Chapter 11 case while also completing two Ironman races is a true testament to his endurance and leadership."

Gregory K. McDonough

Gregory K. McDonough is a seasoned executive who creates energizing solutions to difficult business situations. He has owned and operated businesses in the professional services industry, and he mentors companies ranging from start-ups to $100 million enterprises. As a Certified Insolvency and Restructuring Advisor, he has led companies through turnarounds, mergers, acquisitions, and other financial matters. McDonough is involved with the Entrepreneurs’s Organization, Association for Corporate Growth, and the British-American Business Association. A veteran of multiple Ironman Triathlons, he publishes blogs with his wife on triathlon training as well as on parenting.

More Lioncrest Work

View All Books