Case Studies
J.S. Held Acquires Shechter & Everett to Expand Forensic Accounting Capabilities for Family Law Disputes in Florida
Read MoreThe client was a 130-year-old, $100 million Convenience Store and Gas Station Chain and Heating Oil Distributor based in Pennsylvania.
The Company’s management had lost the confidence of both its employees and creditors. The Company was in default of its loan and faced a severe cash liquidity crisis as a result of operating losses and its mismatch of short-term funding used to pay for long-lived assets.
Our experts assumed the positions of CEO and CFO. We then led a restructuring of operations that included the sale of non-core and unprofitable divisions. Our team implemented significant changes to the Company’s business strategies, including rationalizing its workforce and utilizing seasonal help to deliver services during peak business periods. Other elements of the Company’s turnaround strategy included revamping transportation delivery strategies, outsourcing certain services, and modifications to the Company’s pricing and hedging strategies. To finance the turnaround effort and deleverage the Company, we utilized the proceeds from non-core asset sales and effected a recapitalization of the Company’s balance sheet. Finally, our team recruited a permanent CFO and CEO.
Brian F. Gleason, CTP
Senior Managing Director
Strategic Advisory Practice
+1 610 659 8118
[email protected]
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