You turn to Accordion.
We step in as CRO and interim FP&A lead to oversee day-to-day corporate operations and build/execute an actionable business plan for a successful exit. This involves two separate teams, liquidity and operations management and restructuring and transaction Support. They take the following steps:
Liquidity and operations management:
- Assume control of cash management and develop a 52-week liquidity forecast including weekly variance reporting to increase visibility, identify weaknesses that needed to be addressed, and manage working capital.
- Develop an integrated, three-statement model with borrowing base projections supported by a 5-year business plan to right-size inventory, build out the sales channels, and identify areas of opportunity to enhance margin.
- Support vendor management and negotiations among a stretched payables portfolio, while right-sizing SG&A for the current footprint and scale of operations.
- Guide your company through COVID with minimal additional funding from the lender and support on various legal issues.
- Facilitate the sale of a non-core vineyard for $20M to eliminate subordinated debt and partially pay down the senior lender.
Restructuring and transaction support:
- Lead management and the Board of Directors through strategic decision-making processes to evaluate asset sale and refinance scenarios.
- Partner with investment bankers to market and transact a subset of the vineyard assets.
- Lead refinance efforts for the Term Loan and Line of Credit facility, securing commitments to increase invested capital while decreasing interest expense and identifying several ABL parties willing to support the business growth plan, respectively.
Your value is enhanced.
You successfully navigate production interruptions related to the relocation of one of your manufacturing facilities. Additionally, you avoid an in-court restructuring, while enjoying improved financial stability and enhanced liquidity to support continued operations.