Determining companies ripe for a restructuring or liquidation

Hey everyone,

New monkey here starting my FT S&T role soon (not in HY/distressed) but I am interested in learning more about the RX/distressed space because the area genuinely interests me.

I'm curious, and I know it's a bit vague, but how do you approach determining whether a company is ripe for restructuring or liquidation? What key traits guide your decision on the appropriate method?

(By the way, any thoughts on whether Spirit will pursue one of these options?)

Thanks!

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