CRO Services

Strategic and Operational Advisory and Interim Management Services for Companies Experiencing Financial or Operational Difficulty or Are Involved in a Bank Workout Situation

GlassRatner helps companies develop and execute turnaround strategies and focuses on fundamental business practices that may have been deferred or ignored. In this area we assist management in:

• Reducing losses
• Controlling expenses
• Increasing liquidity
• Improving business processes
• Divesting non-core businesses
• Coordinating communications between lenders and creditors
• Acting as a sounding board for management
• Taking on interim management level responsibilities—including CEO, COO, CFO, Treasurer, and Chief Restructuring Officer (CRO)

Filling a Void

We are regularly engaged to fill a void on a management team following a change of control in ownership, departure of a key executive, or during an acquisition, sale or divestiture. When a client is looking for situational expertise or specialized skills to guide it through a restructuring or to restore credibility with key stakeholders, we provide the temporary leadership and independent voice required until a permanent replacement can be found or the business situation is stabilized. Our leadership skills coupled with our fair and even approach are unmatched in the industry and key to our long-term success.

We have successfully managed and completed turnaround management assignments lasting from several months to years. Our presence serves as a catalyst for change and facilitates the actions needed to address difficult choices and build consensus for going-forward business plans.

Diagnostic Phase

• Diagnostic overview of operations and strategy
• Recommendations for revenue enhancement, cost reduction or working capital management improvement
• Review cash flow forecast and business plan, or if none exist, help in preparing them
• Assist in presenting an updated business plan and financial projections to lender
• Develop an implementation plan

Implementation Phase

• Update cash flow projections
• Prepare strategic and operating plans
• Suggest personnel modifications
• Implement needed operational and strategic enhancements
• Ensure capital structure will support recommended initiatives
• Establish regular dialog with lender, including milestones and reporting