An Investigation of Corporate Restructuring and Business Turnaround: A Study of Failing Companies in Sokoto State
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Background of the Study
Corporate restructuring has become a critical approach for reviving failing businesses and positioning them for improved performance. It involves comprehensive changes to the structure, strategy, operations, or financial management of a company to restore profitability and long-term viability (Olowe & Aliyu, 2023).
In Sokoto State, several companies face challenges such as declining revenue, inefficiencies, and poor management practices. These issues are further compounded by economic volatility, limited access to capital, and intense competition (Bello & Yusuf, 2024). Corporate restructuring provides a viable pathway for such organizations to improve operational efficiency, reduce costs, and regain market share.
This study examines the impact of corporate restructuring on business turnaround in failing companies in Sokoto State, highlighting key strategies that have proven effective.
Statement of the Problem
The rate of business failure in Sokoto State has been on the rise due to factors such as poor governance, weak financial management, and external market shocks. While corporate restructuring has been recognized as a solution, its adoption remains limited, with many companies unable to execute effective turnaround strategies (Abdulkadir et al., 2025).
Existing literature on corporate restructuring primarily focuses on global or national contexts, leaving a research gap in understanding how restructuring strategies affect failing companies at the state level. This study seeks to fill this gap by exploring corporate restructuring practices in Sokoto State and their influence on business recovery.
Objectives of the Study
- To examine the role of corporate restructuring in business turnaround for failing companies in Sokoto State.
- To identify the types of restructuring strategies employed by these companies.
- To evaluate the challenges faced during the restructuring process.
Research Questions
- How does corporate restructuring influence business turnaround in failing companies in Sokoto State?
- What restructuring strategies are commonly employed by failing companies?
- What challenges do companies face during the restructuring process?
Research Hypotheses
- Corporate restructuring significantly impacts the turnaround of failing companies.
- Operational restructuring strategies positively affect business recovery.
- Challenges in implementing restructuring negatively influence the success of turnaround efforts.
Scope and Limitations of the Study
The study focuses on failing companies in Sokoto State, from 2023 to 2025, examining the relationship between corporate restructuring and business recovery. It excludes companies outside Sokoto State and successful businesses that do not require restructuring. Limitations include data availability and the unwillingness of companies to disclose sensitive restructuring details.
Definitions of Terms
- Corporate Restructuring: The process of reorganizing a company's structure, operations, or finances to improve efficiency and performance.
- Business Turnaround: The recovery of a failing business to a state of profitability and stability.
- Failing Companies: Businesses experiencing financial distress or operational inefficiencies that threaten their sustainability.
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