Petroleum/Convenience Store Distributor

Company Overview

•  $200 million distributor of motor fuels that experienced operating losses and a loss of borrowing base availability due to declining wholesale fuel prices.

Engagement Overview
•  Fort Dearborn improved profitability by:
•  Completing divisional profitability analyses that drove recommended price increases
•  Recommended other margin improvements and expense reductions
•  Implemented billing review process to correct billing errors and improve margins

•  Prepared monthly financial forecast and weekly cash flow and borrowing base forecast factoring above
strategic and tactical operating plans and unusual working capital unique to the industry.

•  Negotiated over-advance with senior lender while executing turnaround plan and refinancing.

•  Recommended seeking and assisted management in obtaining long-term mortgage debt financing of real
estate to improve capital structure.
Results
•  Improved profitability and working capital, eventually reducing working capital
loan to zero.

•  Assisted client in obtaining long-term mortgage debt on owned real estate.