We are realistic in our assessments. We don't hide bad news from the principals and lenders who need to know. Consulting and turnaround engagements have included representing major regional and national firms, creditors, customers and shareholder interests in most industry and service sectors, including manufacturing, real estate development and contracting, franchising and retail. Many turnarounds in the manufacturing field require operational improvements in conjunction with financial restructuring. In the automotive industry, several global and OEM-directed factors are putting unremitting pressures on suppliers.
Any business has special circumstances that have led it to where it is today.
Whether engaged as turnaround consultant or court appointee, we always want to find the quickest, least costly, most practical solutions. All parties to a crisis situation must be able to walk away from the negotiating table with their pride and dignity intact. That takes open communications, honest assessments and realistic recommendations. When a business is in trouble, cash flow is a prime consideration. In many instances, additional cash is needed to buy time until more fundamental problems can be addressed and corrected.