Turnaround / Restructuring

CEO, Injection Molded Plastics: Led team to acquire three such companies through 363 auctions. Integrated the operations into a profitable and sustainable enterprise.

Turnaround Advisor, Textiles: Ladies Intimate apparel manufacturer, : Turned money losing operation to profitability and sold to New York based customer. Turnaround Advisor, Aircraft Parts Supplier: Sought and identified buyer for distressed aircraft parts supplier. When financial institution turned down the 3rd party offer, assisted company in bankruptcy filing

Fabric & Furniture showrooms; Interim CEO: Took position as CEO to lead company through bankruptcy and sold the assets through a 363 auction to the party that outbid the identified stalking horse.

Specialty Chemicals; CEO: Replaced initial CEO when business continued to lose money and restored business to profitability and sold to larger textile firm in the Southeast US.

Privately Owned Real Estate Company; Partner: $2 Billion+ in assets. Personally responsible for acquisition/oversight of approximately $400 million of assets in Carolinas. Assets include retail, multi-family, office and industrial. Restaurant Group. Restructuring engagement for a 14-unit corporate franchisee in a national chain. Engagement goal: Complex debt and lease analyses, followed by lender/landlord negotiations to reduce rent/mortgage to align with revenues. Currently developing sale/leaseback strategy to release capital.

Manufacturer of Specialty Chemicals: Plant closing, including continuing production of inventory for customers, shipping and organizing inventory in new location, inventory analysis, re-working of certain inventory, disposal of hazardous chemicals, dismantling equipment and re-assembling in new location, human resource issues with move to new location, outsourcing of certain production, installation of new MIS. Manufacturer of Textile Chemicals: creation of credit monitoring system, including setting credit limits and tracking limits for textile customers

Importer of Furnishings: Restructuring engagement for a designer and importer of furnishings sold in retail markets and to niche end users. Engagement goals: Identify and hire new Controller and Accounting Firm; improve financial and accounting system of tracking customer orders; analysis of lease vs. sell for corporate headquarters; create 13 week rolling cash flow; analysis of situation with current lender and evaluation of alternatives.

Furniture Retailer: Restructuring engagement for an outdoor furniture retailer with eight stores. Restructured debt; negotiated forbearance agreement; enhanced cash forecasting; develop analysis of appropriate locations to close.

Textile Plant: Team leader for mid-market textile plant product rationalization engagement. Revamped outdated costing systems. Major accomplishment: improved profits by aiding management’s review of margins, eliminating product lines, and/or raising prices to improve profits.

Distributor of Audio Tapes: Advised CEO and secured lender in collateral preservation program for audiotape distributor. Communicated plant and office closure to employees and set-up web site to provide critical creditor communications.