Our principals have acted in the capacity of Chairman, Board Member, CEO, COO, CFO and Chief Restructuring Officer in many companies across a wide variety of industries. Company revenues have ranged from $0 to more than $1 billion.

We can step into one or more of these operating roles if the situation warrants re-staffing, or if incumbent management chooses to leave unexpectedly.

Our professionals work expeditiously on site to diagnose operating problems with emphasis on cash generation and long-term value protection.

Rather than "scorched earth" types, we implement cash controls, protect asset values and rebuild frayed relations with customers, vendors, lenders and employees.

We aim to preserve and enhance a sustainable business whenever possible.

We work to restore leadership, stability and direction by communicating clearly and acting thoughtfully and decisively.

Once a situation is stabilized, we pride ourselves on locating permanent management with the talent to continue the job of improving return on investment.

Resizing a capital structure to meet obligations and provide adequate liquidity for the future is a difficult and contentious process, fraying relations with management, owners and creditors. Our principals have managed over 70 such restructurings -- as advisor, as management, on behalf of debtors and on behalf of creditors.

Our Full Restructuring Advisory guides clients through the entire debt restructuring process.

• Valuation and Recovery Analysis.
• Restructuring Plan Development.
• Strategic and Tactical Considerations.
• Negotiations.
• Third-Party Due Diligence.
• Refinancing.
• Testimony in Court Proceedings.
• Documentation and Closing.

Short of our Full Restructuring Advisory, we also offer clients a truncated Strategic Alternatives Analysis, reviewing the subject company's prospects, markets, capital structure, valuation and other relevant factors to deliver to the client.

• Analysis and confirmation of management's business plan.
• Analysis of liabilities, claims and interests.
• Valuation and recovery analysis under various scenarios, including Chapter 11 reorganization.

Our principals are experienced in buying and selling troubled companies, as well as the related financing issues.

We can assist clients when a qualified investment bank is unavailable or where we have a special capability.

All of our principals have acted as Chairman, Board Member, CEO, CFO or Chief Restructuring Officer. Our Financial Restructuring advice is credible in practice, not just on paper.

Our Situation Assessment offers the client a broad review of the subject company followed by a report on findings and recommendations. With an emphasis on breadth over depth, the Situation Assessment is designed to provide a quick, independent and cost-effective review of the subject company. This service:

• Typically requires four to six weeks of on site assessment.
• Comprises evaluation of industry, management, operating systems, internal controls, asset sufficiency, cash improvement opportunities and transaction alternatives such as divestitures, refinancings and so on.
• Is executed for a flat fee.

We can assist management with the planning, budgeting and oversight needed to execute agreed upon objectives.

Examples include creating programs to boost revenues, detailing an expense reduction initiative or deciding how best to sell the company.

We can also translate these plans into monthly and annual financial models suitable for monitoring, variance analyses and further planning.

Our principals presently sit on the Boards of Directors of public and private companies in various stages of transition. We are able to consider additional directorships from time to time.

The operating experience of our principals provides flexibility to owner-clients who are not certain if replacing management is called for. As well, we can serve as an "insurance policy" against a management that chooses to wield its leverage inappropriately.