Turning Around A Struggling Limo Service

Sold company to pay off secured and unsecured creditors, avoiding bankruptcy

The Company: A limousine company

The Issue: Company could not support its debt burden

The Work:

• Appointed as CRO to create and execute business plan to enable company to pay its secured creditors
• Streamlined operations, restructured sales team, and hired an outside company for business development
• Turned around the company from successive losses to profitability within 14 months
• Initiated a sales process, evaluated several offers, negotiated and closed a sale
• The acquirer provided an employment agreement to former owner
• Secured and unsecured creditors were paid in full