Crisis Management and Bankruptcy Support
December 6, 2009
Very often the first stakeholders hear of a crisis is when the cash is about to run out. Experience shows that managers of companies consistently under estimate cash management, all too often creating an all consuming crisis, rather than a problem that could have been easily managed if dealt with in time. Revitalization Partners has extensive experience in managing cash flows of companies in difficult situations.
Each of the principals has substantial success in operating within very tight cash constraints by making use of a variety of working capital management techniques, including:
- Negotiating arrangements with creditors
- Arranging short term rescue facilities
- Aggressive A/R collection
- Cutting overhead
- Defining and dealing with the underlying causes of the cash crisis
As part of the cash management process we focus on reporting the reality of the situation to key stakeholders and implementing transparent forecasting and reporting systems.
While our focus is on helping our clients avoid bankruptcy, if bankruptcy proceedings are necessary to protect a client, our partners have successfully brought companies through Chapter 11 proceedings