A Tale of Two Receivables

By Patty Grasty Client Support Specialist, New Growth Advisors Even in the best of times it’s important for business owners to take the advice of experts if they want their successful company to go from good to great… so, it’s even more critical for companies facing the worst of times,…

Defining the End at the Start

When we are contacted by the owner of a distressed business she invariably asks, “Can you help me?” While we have great confidence in our abilities as turnaround consultants and change agents the question that must communicated very clearly, precisely and in understandable terms is, “What are you trying to…

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…

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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