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WIRELESS COMPANY RESTRUCTURING AND TURNAROUND

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Information about WIRELESS COMPANY RESTRUCTURING AND TURNAROUND

Published on March 12, 2014

Author: paulf8000

Source: slideshare.net

Description

WIRELESS COMPANY RESTRUCTURING AND TURNAROUND
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WIRELESS COMPANY TURNAROUND SUCCESSFUL RESTRUCTURING AND RETURN TO PROFITABILITY

REALITY Multiple Partners Fragmented Corporate Structure 18 Months of Recurring Losses Cloudy Business Focus Cash Flow Issues Need for Restructuring Fleet too large Overstaffed Insurance Too High Operating Expenses Excessive

GAME PLAN Address core competencies Stop chasing rainbows Cut operating expenses Reassure employees, vendors, key clientele Cultivate commercial banking relationships Address partnership dynamics Hire LEAN warehousing/inventory manager Step up business development and sales Wind down losing subsidiaries Liquidate surplus assets

DESTRUCTIVE DYNAMICS Fragmented family ownership Varied perspective, experience, philosophy Internal squabbling Legacy owner still involved Company burning cash Cash flow challenges Lack of controls Poor choice of financial software Controller out of control Six months behind on monthly closes

FINANCIAL IMPACT MAJOR CHANGES Reduction in $1,400,000 of overhead Cut insurance premiums and received WC credits totalling $262,000 Launched New England Division increasing sales by 20% and profits by 40%

FINANCIAL IMPACT BEFORE: Losing $125,000 a month AFTER: Profit of $100,000 a month. Investment banker successfully marketed company and was able to finalize a deal.

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