| SUCCESS
SNAPSHOTS
Turnaround
1
Client
Description:
$200 million multi-branch brand name truck dealership
Financing and leasing business
Actions:
Instituted margin management program for truck sales
Restructured management team
Identified
and implemented expense reductions
Increased
shop labor and parts pricing
Improved
inventory management and implemented full absorption costing
Accelerated
receipt of income tax refund
Facilitated
equity infusion
Implemented
continuous improvement program focusing on selective price
increases and tight cost control
Assisted
in the acquisition of a dealership
Results:
$4 million improvement in profitability
Balance sheet stabilization
Continued
profitability in spite of extended industry downturn
Turnaround
2
Client
Description:
$525 million power equipment and do-it-yourself direct mail
cataloguer
40-store
retail network
Actions:
Worked with management to revise their business plan to
ensure a return to positive cash flow and profitability
Implemented a targeted price increase in both the catalog
and retail operations|
Reduced operating costs by improving warehouse efficiency
and cutting corporate overhead
Refined catalog mailing and advertising programs
Facilitated forbearance agreement by the bank group
Results:
Returned to profitability after 10 consecutive months of
operating losses
Generated annual profit of over $20 million
Extended
the company's credit facility
Turnaround
3
Client
Description:
$40 million forging operations company
Non-competitive in heavily depressed market due to outdated
equipment, highest overhead in industry, and management
and direct labor issues
Large losses and quickly eroding asset values
Actions:
Reduced overhead costs
Restructured management team
Supported
management in achieving operational efficiency goals
Developed
focused business plan including measurable standards for
all operations, emphasis on sales development and product
improvement, and continued tight management of costs and
cash flow
Provided
ongoing planning, operational and strategic support
Results:
Overcame two recent years of losses and returned to profitability
with no change in revenue
Cash flow positive in spite of continued business downturn
New management team is effectively leading company through
difficult times
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