Eighty years of operations, over 200 employees under Unions and extremely dedicated individuals did not seem to be enough to save this Illinois Company from bankruptcy. No matter how hard they tried, they had accumulated more than $12MM in losses in 5 years. Referred to Change Group Americas, the Owners engaged us to evaluate and recommend a proper course of action, ranging from restructuring to outright liquidation.

High debts, vendors refusing to supply materials, critical orders severely behind schedule triggering monetary penalties were just few of the problems.

Surprises never come announced: the bank loan was defaulting the week following our engagement. With factory and offices as collaterals, it would have been the end for this 80 years old client. They could not afford it and we could not let it happen.

Our initial business analysis identified the most critical factors and assessed the employees' morale as well as their willingness to play one of the most important parts in our restructuring efforts. Our Emergency Management practice provided all the necessary resources and tools to cope with the situation.