Turnaround expertise ‘more important than ever’ as impact of COVID restrictions hits businesses

CHICAGO, Dec. 08, 2020 (GLOBE NEWSWIRE) -- The Turnaround Management Association has recognized Leah Gistenson of Virtas Partners with two awards for her work for TMA’s Chicago/Midwest Chapter.

Gistenson received the TMA’s Chicago/Midwest Chapter’s “Most Active New Member” award. Also, the Chapter presented the “Outstanding Service” award to its Membership Committee, which Leah co-chairs. The committee helped increase membership at the chapter by 100 year-over-year, making Chicago/Midwest the TMA’s largest chapter in North America.

“Leah is a rising star in the turnaround world,” said Virtas Partners co-founder and Managing Partner Tim Czmiel, himself a past recipient of the TMA’s national “Turnaround of the Year” award. “She is applying both the art and science of turnaround management to assist clients to save businesses, and jobs when possible. The awards are recognition of her contribution to the industry and to the association. We are delighted to have Leah as an important member of our Virtas family.”

Czmiel added: “Turnaround management is more important than ever as the COVID crisis and restrictions are having such deleterious effects on businesses across all industries. Lender forbearance with ‘light’ terms and conditions, and the Federal government’s Paycheck Protection Program loans have helped, but distressed situations and liquidations can be expected to increase over the course of 2021.”

Virtas Partners is a boutique consulting firm helping clients successfully navigate key transitions, including acquisitions, divestitures, carve-outs, accounting investigations and restatements, restructurings, and capital placements.

Virtas Partners: Trusted. Proven. Our team aligned for your success. www.virtaspartners.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ca82fa75-4623-4bbd-bb5e-4a64ca730e94

Contact:  Jon Harmon  jharmon@virtaspartners.com  (630) 815-6586

Leah Gistenson, Director - Virtas Partners

Leah Gistenson of Virtas Partners has been recognized by the Turnaround Management Association.