From time to time, companies may find themselves in financial and economic circumstances that are unfamiliar to them, whether good or bad. Throughout the years, the turnaround and crisis management strategies that WheelerRubin has brought to the table have assisted our clients in surviving downturns in the economy, unexpected growth spurs, contractions of sales, management decisions or just plain bad luck.
In addition to reviewing the company's growth and value creation strategies, turnaround and crisis management involves an immediate focus on improving cash flow through the identification of opportunities to increase revenues, drive down costs, and negotiate better terms with vendors and creditors. Through years of experience advising businesses across various industries during times of crises, we have developed a set of managerial diagnostic tools and operational techniques to immediately stop hemorrhaging of cash flow.
Our turnaround and crisis management processes encompass the following services among various others:
- Cash management
- Negotiation of better payment terms with vendors and suppliers
- Renegotiation of debt covenants with lenders
- Loan restructuring and refinancing
- Identification and implementation of new market-share sales strategies
- Analysis of expenses on the financial statements and sub-ledgers
- Identification of more cost effective service providers (health benefits, retirement plans, human resources structure, etc.)
- Optimization of manufacturing processes
- Outsourcing or offshore production and/or customer service departments
- Improvements in inventory management
- Logistical restructuring
To read about some of the projects in which we have been engaged in the past, please click here:
Project Summaries.