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When Bankruptcy Goes Public
Bankruptcy filings make headlines, regardless of whether the debtor is a large public company, a small private business, a national icon or a local not-for-profit. And media coverage — and the public and political scrutiny it invites – can influence, for better or worse, the course of the case. It can even affect the very future of the organization. As the legal, operational and financial strategies associated with the bankruptcy process are put in place, communications must be an integral component.
Dealing with the Media
The first step in the process is to be prepared. From the days in advance of the filing to confirmation of the reorganization plan, anticipate that the case will make news. Whether the coverage relates to routine court procedures or larger events, such as union negotiations, layoffs or plant closures, the story likely will move forward with or without your involvement, so it's wise to get a handle on it well in advance.
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