Turnarounds / Workouts

Experience and knowledge to change your business model. By redefining the focus and objectives, the core business may be salvaged. Through mentoring, coaching, and if necessary, active management, the necessary guidance and re-direction is available to possibly return your business to profitability.

• Assist owner of a $3.5M mailing and fulfillment operation with restructuring efforts.
• Assisted with the wind down and liquidation of home improvement retailer with $25MM in sales and the auction of the inventory and sale of the real estate to pay down the secured lender with minimal damage to the guarantors.
• Provided Pre and post bankruptcy consulting for a successful turnaround assignment. A chain of seven optical stores with sales approximating $2.5MM. Appointed accountant and through four-wall analysis, determined to close three stores and restructure corporate overhead. Testified as expert witness as to the feasibility of the Plan and guided the debtor through the process to profitability. Debtor was discharged from bankruptcy after having met all obligations and have retained a long term relationship with the debtor and still provide consulting, accounting and tax services.
• Provided Pre and post bankruptcy consulting for successful turnaround agreement. An independent grocery store with two locations with $700,000 in sales and 50+ employees. Appointed accountant by the Court during bankruptcy. Preformed feasibility analysis and negotiated with secured and unsecured creditors to continue supplying product and to accept reduced debt levels allowing the debtor to continue operations and return to financial viability. The debtor met is obligations and was discharged from reorganization and continued operations for several years. Developed relationship and continued to provide accounting, consulting and tax services until the wind down of the business to a close.
• Engaged in turnaround capacity for wallpaper manufacturer in hostile bank and hostile creditor situation.
• Assist construction management company with successful turnaround efforts.
• Assist trucking, waste hauling, and landfill business (sister corporations) with successful turnaround efforts.
• Assist auto dealership (assisted owner in turnaround effort and eventual wind-down and liquidation of business).
• Assisted out-of-state food distributor in turnaround efforts.
• Assisted owner of color separator business in turnaround efforts.
• Assisted owner of auto dealership in turnaround efforts, closing of one dealership, negotiation with bank and litigation support to attorneys.
• Assisted owners of contract filler of chemical products in turnaround engagement and eventual liquidation of business.
• Engaged by manufacturer of glass products in successful turnaround assignment.
• Assisted owner of a distributor of tobacco, candy and other food products in turnaround assignment.