News and Press Releases
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TMA CEO SCOTT STUART AND FAST COMPANY TALK RITE AID SALE
As Rite Aid navigates its second bankruptcy and seeks buyers for its pharmacy business, the company urges customers not to transfer prescriptions elsewhere to maintain service continuity. Scott Stuart, CEO of the Turnaround Management Association, underscores the gravity of the situation: “This is it for Rite Aid,” emphasizing the critical nature of a swift and […] -
Record-Breaking Member Webinar Delivers Exclusive Insights on Tariffs
TMA’s latest members-only pop-up webinar drew record-breaking attendance, with over 400 participants tuning in to hear from an all-star panel on one of the most urgent topics facing businesses today: tariffs. This high-impact session delivered tremendous member value by bringing together top experts to discuss the immediate and long-term effects of tariffs on the U.S. […] -
TMA Announces 2nd Annual Turnaround Tourney
It’s time for chapters throughout TMA to prepare for the ultimate showdown—where brains meet brilliance, and strategy takes center stage! It’s time to unleash your inner financial guru and restructuring wizard because the battle for bragging rights and the coveted trophy is on! The TMA Turnaround Tourney is not your average competition; it’s a high-stakes […] -
TMA Chicago/Midwest Chapter Announces Free 13-Week Cash Flow Forecasting Webinar for Local Businesses
Association Focused on Business Improvement Offering Webinar on Essential Tool for Business Owners and Lenders on March 6, 2025 (Chicago, IL – February 19, 2025) – The Turnaround Management Association’s Chicago/Midwest Chapter, focused on operational and financial turnarounds of businesses of all sizes, announces today it will present a free one-hour webinar, “Essentials of 13-Week […] -
Joann to Begin Liquidation Sale at 533 Stores
Update February 28, 2025: Joann is officially done for. The winning bidder in its Chapter 22 bankruptcy case was liquidator Great American with term lenders, beating out stalking horse bidder Gordon Brothers, and the bankruptcy court approved the sale. All Joann stores are now conducting going-out-of-business sales, with most closing by the end of May. Much love to all the Joann […] -
TMA Global CEO discusses Joann going back to bankruptcy
If no alternative buyer is found by Feb. 14, the 80-year-old retailer will be liquidated. Once again, Joann Stores finds itself in bankruptcy proceedings. It has not even been 12 months since Joann first filed Chapter 11 bankruptcy. The pre-packaged process took less than 40 days, with a restructuring agreement that cut its debt in half and […] -
Expert: Starbucks Faces Tension Between Pulling Back on Promos and Aggressive Marketing Efforts
Ahead of Starbucks’ first-quarter earnings call on Tuesday (Jan. 28), company officials are taking steps to address declining sales and traffic with a series of policy changes. Starting Monday (Jan. 27), Starbucks reinstated condiment bars and return to barista-written names on cups, aiming to recapture the classic coffeehouse experience and improve service efficiency. Additionally, the company is expanding free refills on select orders to all paying […] -
TMA CEO Scott Y. Stuart weighs in on Business.com article Don’t Want to Cut Employees? Try Cutting Salaries
Layoffs and downsizing are an unfortunate part of running a business. Sometimes cutting costs is necessary, and oftentimes a business’s largest expense is payroll. When it’s necessary to preserve the future of the business, it’s the responsibility of any good business leader to make the difficult call to let staff members go. -
TURNAROUND MANAGEMENT ASSOCIATION ANNOUNCES 2025 LEADERSHIP
CHICAGO, IL – The Turnaround Management Association is proud to announce the new slate of association leaders whose terms begin January 1, 2025. Rachael Smiley, Ferguson Braswell Fraser Kubasta PC, will serve as TMA Global President. Smiley’s TMA involvement includes leadership roles at the local, regional, and global levels of the organization, including TMA Dallas […] -
TMA CEO Scott Stuart Featured in ConsumerAffairs
TMA CEO Scott Stuart was featured in ConsumerAffairs November 5, 2024 -
TMA Announces the 2024 Chapter & Individual Awards Winners
TMA’s Chapter and Individual Awards shine a spotlight on the exceptional efforts of both individual TMA volunteers and chapters across the globe. Each year, honorees stand as inspiring examples of the association’s core values, embodying the spirit of selfless service and expressing the organization’s mission at every turn. Congratulations to this year’s winners! 2024 TMA INDIVIDUAL […] -
TMA Announces the 2024 TMA Turnaround and Transaction of the Year Awards
CHICAGO, IL – The Turnaround Management Association (TMA), the premier nonprofit serving corporate renewal and restructuring professionals worldwide, is proud to announce the winners of the 2024 Turnaround and Transaction of the Year Awards. TMA will honor this year’s award recipients at the TMA Annual Conference, October 15 – 18, in Philadelphia, PA. Since 1993, TMA […] -
Turnaround Management Association Receives 2024 Power of Associations Award
July 23, 2024FOR IMMEDIATE RELEASE Turnaround Management Association Receives 2024 Power of Associations Silver Award [CHICAGO, IL]—The Turnaround Management Association (TMA) has been recognized with a Power of Associations Silver Award by the American Society of Association Executives (ASAE) for its successful Voices of Inclusion & Playbook for Progress initiatives. Only six associations are selected […] -
Masters of The Turnaround: Scott Stuart of Turnaround Management Association On How They Turn Crisis Into Success
Read TMA CEO Scott Stuart’s take on how TMA members help companies turn crises into successes, his advice for how company stakeholders can develop the mindset needed to persevere through adversity, and more in “Masters of The Turnaround: Scott Stuart of Turnaround Management Association On How They Turn Crisis Into Success” in Authority Magazine. -
TMA Has Moved
Exciting news! Our headquarters has just moved to a new location – but don’t worry, our heart still beats in sweet home Chicago! We’ve just shifted down the street to a fresh new space that’s perfect for fostering collaboration and creativity. Our new digs are not only more economical but also designed to enhance teamwork […] -
TMA CEO Scott Stuart Featured in Craft Industry Alliance
TMA CEO Scott Stuart was featured in Craft Industry Alliance discussing the liquidation of Joann. -
TMA CEO Scott Stuart on Real Perspectives Podcast
The Real Perspectives Podcast dives deep into the strategies and stories of business leaders who have made a difference in commercial real estate and beyond. In this episode, host, Vladimir Bosanac interviewed TMA CEO Scott Stuart, exploring Scott’s journey, the lessons he’s learned along the way, and his unique approach to running the Turnaround Management […]