Our turnaround and crisis management practice offers critical independent assistance to companies experiencing financial distress and those with underperforming assets. Since cashflow often is the immediate need, we work with management to implement comprehensive cash maximization techniques. We calmly and confidently represent the company in discussions with lenders, vendors and investors as we lay out both short and long term plans to stabilize the business and put it back on track to meet its financial objectives.

Exogenous factors, changes in the competitive landscape and changes in economic conditions can cause companies to rapidly find themselves in a financial crisis. This is particularly true with highly leveraged companies. Our partners possess a wealth of experience working with companies in distressed situations in virtually every industry and representing lenders and investors to improve non-performing portfolios.





Fortunately, many successful financial managers have never found themselves in a financial crisis. Companies with underperforming assets or deteriorating cash flows face a host of issues they may have never encountered before, including tighter management of cash flows, the need to extend vendor financing, and dealing with lenders who have lost their patience or faith in management’s ability to deal with the crisis. The added burdens of increased reporting to “at risk” constituencies can often be more than current management can handle. We have the experience and the horsepower to provide needed management assistance in these tough situations.



We can provide the necessary oversight and reporting to the Company’s lenders and other investors to provide an objective review of the Company’s business plan. Oftentimes, management may have a lender-imposed monitoring mechanism as a condition to obtaining a loan waiver. We can review cash conservation plans and projected 13-week cash flows and we can monitor actual performance against these plans. We can also perform a risk and opportunity review of business and operating plans and we can assist with negotiation of forbearance agreements and restructuring plans.



  • Provide interim crisis management to guide companies facing financial challenges. We supplement financial management to enhance communications with creditors, vendors and the Board of Directors. As important, we provide dedicated experienced resources to assure successful execution of turnaround plans.
  • Fill an interim CFO position where the incumbent has lost credibility with lenders and other creditors. It can be near impossible to “fix” a creditor issue where the incumbent CFO is viewed as part of the problem. Alternatively, where warranted, we can help reestablish credibility of financial management through our independent review process.
  • Establish or enhance 13-week cash flow modeling techniques and measure to actual performance.
  • Conduct analytical reviews and development of business plans.
  • Compare operating plans to financial plans for consistency. Communicate required financial objectives to operating personnel.
  • Analyze cash conservation opportunities and assess any related risks.
  • Model proposed debt compliance measures and provide sensitivity analyses. Assist in lender negotiations for amendments and forbearance agreements.
  • Identify potential new sources of financing and refinancing. Prepare financial marketing packages.
  • Coordinate lender operational and collateral audits.
  • Monitor performance against business plans.


Examples of our work include:

  • Established 13- week cash flow models to support lender requests, with daily, weekly and monthly reporting to actual for companies with debt financing ranging in size from $5 million to $60 million.
  • Negotiated multiple loan agreement amendments with both bank and non-bank lenders with loan commitments ranging in size from $5 million to $150 million.
  • Negotiated numerous loan covenant waivers and resets and forbearance agreements for loans in non-compliance. Oftentimes, clients find third party involvement is invaluable in maximizing covenant flexibility.
  • Develop support for bank audits.
  • Assist companies in liquidating plans for assets on non-complying loans in wind-down situations.
  • Analyze financial forecasts and performed opportunity and risk analyses for management and lenders. Third party business plan reviews are often required by lenders in turnaround situations.
  • Negotiate revised vendor and service provider payment terms andquickly realize the maximum flexibility a vendor can provide.
  • Quickly identify cost cutting measures including elimination of excess capacity, cancelation of unwanted lease arrangements and elimination of other unneeded corporate services and products.
  • Perform working capital reviews to assure quick collection and conversion of short term assets and maximum vendor/ supplier financing.