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Economica

Vol. 17 No. 1-2 (2026)
Articles

When change is no longer an option, but a compulsion: liquidation procedures and the human aspect

Published:
2026-02-23
DOI Linkhttps://doi.org/10.47282/economica/2026/17/1-2/16255
Author
Szabolcs Igaz
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pdf (Hungarian)
Keywords
change management crisis management liquidation group layoffs mass layoffs
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Copyright (c) 2026 Szabolcs Igaz

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This work is licensed under a Creative Commons Attribution 4.0 International License.

How To Cite
Selected Style: APA
Igaz, S. (2026). When change is no longer an option, but a compulsion: liquidation procedures and the human aspect. Economica, 17(1-2), 34-49. https://doi.org/10.47282/economica/2026/17/1-2/16255
Abstract

Poorly managed change management and liquidation proceedings are often causally linked. Proactive and effective change management strategies can reduce the likelihood of going into liquidation. However, if the organization cannot adapt properly to changing circumstances, it can ultimately result in the initiation of liquidation proceedings. Understanding this connection, recognizing the challenges that arise as a result of changes in a timely manner, and then choosing the appropriate change management strategy can be vital for the survival of companies.

In this paper, I address the case of organizations failing to avoid liquidation. I will present how the most well-known change management theories can help manage organizational change during liquidation, and through a concrete example – from the perspective of the liquidator as a court-appointed insolvency expert – how change management activities are actually implemented in practice.

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