Role: Turnaround Consultant
Client: Private Owner
Business Description: Regional Conference Center (Southeastern Michigan)
- Negative cash flow
- Significant negative net worth
- Negative working capital
- High operating cost
- Defaulted debt
- No budget concepts
- No strategic goals/plans
- Shoot from the hip crisis management
- Identified and stopped cash burn
- Negotiated with creditors to reduce debt by 50%
- Reconfigured accounting system and records to gain an accurate view
- Liquidated non-earning assets
- Replaced old equip. with new equip. which reduced maintenance Costs and increased sales volume
- Improved pricing model
- Gross revenues up by 10%, Cost were down significantly, good positive cash flow and growth, positive and growing net worth.
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