Financial Turnaround Advisory

Company’s financial performance deteriorated to the point of generating material financial losses. Turnover of executive management created a void and lack of internal leadership. The board was ill-informed on financial matters, and, a lender was ready to foreclose on eight-figure level of debt.


  • Leadership void in multiple key levels within the company.
  • Staff morale low.
  • Lack of financial management and inadequate resources.
  • Cash flow problems.
  • New initiatives floundering and causing financial drain.
  • Lost credibility with primary Lender.
  • Multiple violations of financial covenants resulting in technical default.


  • Evaluated and diagnosed financial problems of the business down to the individual business units.
  • Re-established communications with the Lender to regain lost trust.
  • Worked with Board members to get them more engaged on financial matters with improved management reporting going to the Board.
  • Acknowledged identified problems to Lender and set a corrective course of action.
  • Negotiated forbearance agreements to allow time for company to execute turnaround plan.
  • Maintained routine communications and reporting to Lender to keep them informed about action plans to improve cash flow and profitability.


  • Improved billing and collections resulting in lower A/R outstanding, thereby improving monthly cash flow.
  • Company able to pay down its working capital line of credit.
  • Met new financial covenant tests.
  • Lender and company working cooperatively to complete the financial turnaround.