Turnaround/Crisis Management

Nperspective has the ability to assist clients through difficult times through its crisis management services. In most instances, client companies are experiencing severe cash shortages, poor bank and vendor relations, inefficient operations and declining morale. Nperspective’s approach in solving these issues includes performing an initial assessment of the condition of the business to establish:

  • The viability of a turnaround
  • The breakeven point of the business
  • The cost restructuring needed to assure viability
  • The ability to avoid a Chapter 11 bankruptcy filing
  • A recommendation for the business to move forward

Once this recommendation is adopted by company management, Nperspective will then assume an operational role, typically as Chief Restructuring Officer, to navigate the company through its recovery process. This phase includes:

  • Marshaling the resources of the company to address the most critical needs
  • Meet with the company’s lenders to inform them of the turnaround plan and negotiate a “standstill” agreement to provide the company the time needed to re-establish profitability
  • Implement an informal workout plan with the company’s vendors
  • Examine the company’s processes to identify weaknesses and recommend operational improvements

Should it not be possible to avoid a Chapter 11 proceeding, Nperspective has the ability to shepherd the company through this process by:

  • Provide recommendations of at least three law firms that specialize in bankruptcy proceedings to be interviewed by the company
  • Establishing contact with the company’s creditors to assess the ability to expedite the bankruptcy process
  • Formulating a filing plan
  • Establish the reporting capabilities that will be needed

The central theme of Nperspective’s crisis management is value creation.

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