Thanks for printing!  Don't forget to come back to GlassRatner for fresh articles!

Turnaround & Interim Management

Turnaround & Interim Management

GlassRatner provides strategic and operational advisory and interim management services to companies that are experiencing financial or operational difficulty or are involved in a bank workout situation. We help companies develop and execute a turnaround strategy and focus on fundamental business practices that may have been deferred or ignored.   In this area we assist management in:

  • Reducing losses
  • Controlling expenses
  • Increasing liquidity
  • Improving business processes
  • Divesting non-core businesses
  • Coordinating communications between lenders and creditors
  • Acting as a sounding board for management
  • Taking on interim management level responsibilities, including Chief Executive Officer, Chief Operating Officer, Chief Financial Officer, Treasurer and Chief Restructuring Officer

GlassRatner is regularly engaged to fill a void in a management team following a change of control in ownership, departure of a key employee or during an acquisition, sale or divestiture of a business. When a client is looking for situational expertise or specialized skills to guide it through a restructuring or to restore credibility with key stakeholders, we provide the temporary leadership and independent voice required until a permanent replacement can be found.

In a two-phase process, GlassRatner investigates, recommends and manages specific procedures to support a business turnaround.

Diagnostic Phase

  • Diagnostic overview of operations and strategy
  • Recommendations for revenue enhancement, cost reduction or working capital management improvement
  • Review cash flow forecast and business plan, or if none exists, assist in preparing them
  • Assist in presenting updated business plan and financial projections to lender
  • Develop an implementation plan

Implementation Phase

  • Update cash flow projections
  • Prepare strategic and operating plans
  • Suggest personnel modifications
  • Implement needed operational and/or strategic enhancements
  • Ensure capital structure will support recommended initiatives
  • Establish regular dialog with lender, including milestones and reporting

We have successfully managed and completed turnaround management assignments lasting from several months to over a year. Our presence serves as a catalyst for change - facing difficult choices and building consensus for going-forward business plans.

Begin Your Journey to Clarity

Contact GlassRatner