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…

Tobacco Products Wholesale Distributor (Cincinnati, Ohio)

Client Tobacco Products Wholesale Distributor (Cincinnati, Ohio) Our Role New Growth Advisors was retained by owner/manager to lead a viability assessment and if possible create a revitalization plan to allow the company to return to sustained profitable operation and find a replacement senior secured lender. Problem The company’s revenues had…

Screw Machine Products Company (Mason, Ohio)

NGA Role • NGA was retained to lead management in determining the viability of this entity. Problem • This once proud company had seen many of its customers begin to source their requirements in other countries with resulting loss of revenues. The company also suffered from aged equipment that while…

P&D Marble and Granite, LLC (Batavia, Ohio)

NGA Role • NGA was appointed receiver in the Clermont County Common Pleas Court. Problem • This company had ceased operation and its secured creditor had begun foreclosure proceedings. • Secured creditor sought a receiver to secure the real estate and liquidate the personal property and real estate. NGA Solution…

Executive Suites Plus, LLC (Beavercreek, Ohio)

NGA Role • NGA was appointed receiver by the Common Pleas Court of Greene County, Ohio. Problem • Former owner of this business sold the operation but continued to hold a secured debt owed by the operation and also guaranteed the lease of the operating entity to it landlord. The…

McGrath Group Management (Cincinnati, Ohio)

NGA Role • NGA was appointed receiver by the Hamilton County Court of Common Pleas to operate this business during the pendency of the dissolution lawsuit before the Court. Problem • Two owners with equal shares of this company were at odds. One had sued the other for dissolution of…

P&P Develpoment Group, LLC (Cincinnati, Ohio)

NGA Role • Court appointed receiver in Common Pleas Court Hamilton County Ohio. • Obtain a receiver’s sale of this vacant building. Problem • Secured creditor foreclosed and wanted a receiver appointed to secure the premises and obtain a receiver’s sale of the property NGA Solution • NGA was contacted…

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