Going Concern Can Maximize Recovery

New Growth Advisors was appointed receiver over the going operation of Amco Products. Amco Products was a multi-generation family owned and operated business struggling as many of its customers shifted supply from domestic manufacturers to lower-cost foreign manufacturing. This type of off-shoring had practically killed Amco Product’s business. The company’s…

The Real Question in a Turnaround

By Sumner Saeks “I don’t need some so called turnaround consultant to tell me how to fix my business,” said the distressed business owner. “Sure we have been losing money every month this year, but all these people do is fire my employees. Shipments are going to be late, quality…

Grow Yourself to Death

By: Sumner M. Saeks, Certified Turnaround Professional New Growth Advisors, Inc. A worried voice on the phone says, “We’ve made it this far through the downturn. We have put in all of the money we have.  We have borrowed on credit cards and asked our suppliers for extended terms. Now…

New Growth Advisors Acts as Chief Restructuring Officer and Investment Banker in the Second Largest 2011 Bankruptcy in Dayton, Ohio

New Growth Advisors, Inc. (“NGA”) is pleased to announce that its principal, Sumner M. Saeks served as Chief Restructuring Officer (“CRO”) and NGA acted as the exclusive investment banker in the Chapter 11 filing, operation in bankruptcy, sale of substantially all of the assets of MEIS, Inc. and New Life…

The Secret to a Successful Turnaround It’s About Time

by Sumner M. Saeks “Time is your enemy…” That’s what some well-meaning veterans in the field told me when I first started in this business. While this advice was meant to help me negotiate the unpredictable terrain I would face in the world of corporate renewal and turnaround, I quickly…

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