Troubled Firm Restructuring
We employ Solutions Management to help companies in turnaround, bankruptcy and other crisis situations.
What we do is:
- maintain a perspective of the problem (the "10,000 foot view")
- use regular meetings with management (usually weekly) to plot the long term recovery of the firm and keep it on course
- charge a manageable monthly fee, irrespective of the time involved
- if necessary, introduce one or more temporary or crisis managers into the firm to help implement the recovery plan and promote process
- manage any refinancing or transactional requirements (dispositions of businesses or other assets) on a success rewarded project basis
What we do not do is:
- duck the tough challenges; or find a short term or sub-optimal solution to earn a success fee, and then run
We often have creditors recommend us because our participation can enhance a debtor's credibility. We act on behalf of the shareholders to help company management develop appropriate operating and financial strategies to either maintain the business as a going concern or realize full value of the assets through their sale. We also advise clients who wish to purchase businesses from a debtor-in-possession.