Save Business And Jobs
Controller, cash flow, Finance
In 2008 I was retained as a part-time CFO by a $20,000,000 company that was losing at least $100,000 plus each month, The lender wanted to be paid out entirely because their contract had been breached by a fraudulent action, Much of each day was spent dealing with irate creditors. I was able to obtain financing from a hard money lender sufficient to allow time to either find a buyer or arrange for an orderly wind-down. I was able to find a private equity firm to buy the business for enough to pay out the secured creditors entirely and 25 to 30 cents on the dollar for all of the unsecured creditors.