Minimizing Cash OUTFLOW to Survive the COVID-19 Recession

An essential part of any strategy to save a distressed business is minimizing outflow of cash. This is done by eliminating unnecessary expenditures, restructuring debts, and modifying the terms of the struggling business’ agreements with providers of essential goods and services.

The COVID-19 crisis has been devastating to most hospitality businesses.  Bob Lannan has written two articles that explore a two-part strategy for a hospitality business to restore essential cashflow to weather this crisis: replacing lost cash inflow and minimizing cash outflow.

Here is Part II of the series, which explores the second part of this strategy.