Industry:Real Estate & Construction
Company:A $40MM construction contractor which provided interior construction, metal framing, dry wall, stucco and paint.
The Company was in default of its loan covenants with its lender and was out of cash. The Company lacked effective work-in-process management and tracking, its contract files were is disarray and it lacked financial and operational controls and job costing standards.
At the request of the lender, Focus Management Group was asked to undertake a full examination of the business and implement the necessary measures for a complete financial and operational restructuring.
- Undertook a top-to-bottom restructuring
- Determined the true status of WIP, implemented timely and accurate financial reporting tools
- Created a rolling 13-week cash flow to accurately forecast future availability under the Company’s line of credit
- Led the financial and operational activities and provided discipline and structure for this growing contractor
- Focus Professionals re-created the Company’s work position, created standardized operating procedures, eliminated cash redundancies and managed cash flow.