• NGA was retained at the recommendation of the secured lender to provide turnaround consulting, management coaching and refinancing guidance.
• Third-generation managed company had fallen on hard times due to loss of major customers, lack of cash to purchase raw materials, lack of credit with vendors and challenges with customers.
• NGA worked with management on creation of a revitalization plan to address weak cash flow, raise cash for operations, reduced staffing to meet level of current revenues, clarified management responsibilities.
• Lack of viability was determined at current revenue levels and lack of capital to operate business.
• NGA determined need to sell business, rather than liquidate.
• NGA worked with owners to list building for sale.
• Company negotiating for sale as a going-concern. Real estate listed for immediate sale.