Burke Advisory specializes in Crisis Management for our clients in Troy and across Southeastern Michigan. We work with our clients to help them through very difficult times. Below are a few areas that we specialize in and can help your company with to get back on track for success.
When you need an impartial and skilled manager to step in and act as a receiver, you should turn to a certified professional turnaround manager to maximize your return in the shortest time. Whether the assets in dispute are a going business concern, real estate, or something else, our management experience and practical, real-world, expertise will always result in better outcomes than those of a career receiver who may be focused on maximizing fees.
The process of the turnaround and disposition of assets in dispute is an art that requires specific business knowledge and training in order to maximize the return to the parties. We understand that a receiver serves as an unbiased representative of the court, for the benefit of both parties in dispute.
Chief Restructuring Officer (CRO)
A Chief Restructuring Officer (CRO) is generally an outside professional brought in to a failing business concern to effectuate a “turnaround.” We have significant experience performing this task for various parties. The CRO operates under a negotiated agreement that details his duties and authority.
While a CRO may be engaged exclusively by the company’s board of directors, they are often engaged as an out-of-court alternative to a receivership. In this case, the CRO works as an unbiased and independent manager for the benefit of all of the parties. Based in Troy, Michigan, our firm brings professional credibility to the table. Our focus is on maximizing value for the parties within an expedited and realistic time frame.
In the event of a sudden absence or illness of a business owner or to assist in a smooth transition of power, we are available on an emergency basis to step into the shoes of the CEO on a defined interim basis. These engagements can vary from benign to aggressively defending against creditors or minority shareholders.
The parameters are addressed in a comprehensive engagement agreement detailing authority, duties, goals, and expectations. The availability and expertise of certified firms like ours can take a great deal of stress out of an otherwise untenable situation. Our interim management firm is based in Troy, Michigan, and offers these services to clients across Southern Michigan.