A longtime manufacturing company had a superb reputation, but losses were beginning to mount. The company was in dire need of restructuring, but was not interested in hiring a large team of lawyers, accountants, and manufacturing consultants who might or might not succeed.
Our Approach
Three West’s business consultants were able to “dive in” and familiarize themselves with the company and its core issues quickly. Through some thorough due diligence, the heart of the problem was apparent: bank loans outnumbered assets by $17 million. The action plan was complex yet methodical, involving a combination of financial restructuring, staff and facilities downsizing, and debt renegotiation.
The Result
As the result of several fundamental changes and cuts in the way the manufacturer did business, Three West was able to close the dollar gap from $17 million to $5 million, making the institution a viable contender in the marketplace and in a better position to sell. Shortly thereafter, the company was sold and became a viable part of a larger corporation.
