Turnaround Consulting And Crisis Management

It’s not usually one big error in judgement or a wrong critical decision that leads to the failure of a business. More commonly, the causes of failure are several mistakes whose consequences were ignored or overlooked by company management. We work quickly to identify these mistakes and implement solutions. Our principals are knowledgeable and flexible and take a hands-on approach. We offer a range of financial and operational restructuring solutions.

Corporate Restructuring

Our experience in distressed and underperforming situations allows us to analyze core and non-core business segments to reorganize operations, restore the company to profitability and secure long term financial health. We develop and implement strategies to improve operations, sell or combine nonessential operations and assets, reduce overhead and arrange replacement financing.

Lenders, creditors and investors in a distressed workout situation want to know if the company is still a viable business that can be turned around. We provide an objective, independent assessment of the situation and identify business risks and opportunities. We have the ability to isolate the problems and develop solutions to improve stakeholders’ positions. Our turnaround plans are aimed at:

Stabilizing cash, cutting costs and creating liquidity
Changing corporate structure and processes to improve financial performance
Discontinuing or selling-off unprofitable or nonessential lines of business
Selling-off underutilized assets
Negotiating refinancing and recapitalization plans
Finding replacement and additional capital
Defining a viable business strategy for the ongoing business

Interim Management

In a distressed company situation, with time as a critical element, the company may need on-site interim support to stabilize operations and deal with employees, lenders and creditors. Management skills and knowledge needed during a turnaround may be counterintuitive to normal management practices. Hiring an experienced interim manager to fill senior level executive positions enables the company to continue operations without interruption until a permanent replacement can be hired. Our partners have served in CEO, CFO, CRO and COO positions for a range of companies.

Bankruptcy Advisory

If a bankruptcy filings is necessary, we work with management to manage through the bankruptcy process by assisting with bankruptcy planning, creating schedules and statements, information for first day filings and hearings, arranging DIP financing, submitting monthly operating reports, cash flow planning, assisting with preparation of disclosure statements and plans of reorganization.

Jeff C. Merritt

(214) 226-0794

jeff@merrittadv.com

101 S. Coit Road, Suite 36-306

Richardson, TX 75080