With retail being this month’s JCR focus, the theme of “opening back up” is clearly front and center. While TMA’s strong leadership made the difficult yet important decisions to move TMA to the virtual world, opening back up to TMA “business as usual” has its own set of complexities.
As a leadership team, we know how much we all want to get back to seeing our members face-to-face and breaking bread with our friends and colleagues. Truth be told, I really miss visiting client facilities, flying to new places, and working late in boardrooms as we implement complex strategies to obtain the best outcomes with our clients. TMA is committed to getting back to normal as quickly and safely as we can, but we ask for your patience, as we can’t turn this ship on a dime.
It is not lost on us, though, that some companies will not open back up; they won’t have the opportunity to return to business as usual. Like many of you, our firm has worked with large retailers as they struggled through the pandemic. There clearly are some winners, but also some significant losers. I know that TMA members have worked tirelessly to save these retail businesses where they could and helped others gracefully exit as the weight of the pandemic could not be overcome. We certainly all are excited for what is expected to be explosive pent-up demand for goods and services from the business survivors, but this does not come without some sadness—as our favorite local restaurant or gym or boutique shop is no longer.
In this JCR issue, you will find many interesting perspectives from our members as they discuss the challenges, changes, and outlook for the retail industry landscape. It will be interesting to see how companies manage supply chain issues, working capital needs, and regional policy differences as they work toward normalcy. Fortunately, TMA members will be there to support them.
As the country reopens, so does TMA. We are excited that The 2021 Annual Conference will be in-person and online in Nashville on October 26-29. This will be a great opportunity to reconnect with members from across the country and globe. Learn more at annual.turnaround.org.
Finally, because TMA recognizes the value diversity adds to an organization across the board, TMA’s goal is to increase the diversity of its leadership, including its Board of Trustees, Executive Board, committees, and senior leaders. TMA encourages and welcomes members to nominate others—and to nominate themselves—especially those from underrepresented groups for 2022 leadership positions. Nominations are due by June 28 at 6 p.m. EDT. Visit turnaround.org/board22 for more information, including a list and descriptions of available positions. Together we can build upon our successes and keep TMA as the premier organization for the turnaround, restructuring, and bankruptcy industry.
Thanks, stay safe, and be #TMAProud. Looking forward to seeing you soon.
Matthew English, CTP
TMA Global President