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By: BusinessWisdom  04-06-2016
Keywords: 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.

Keywords: cash flow, Controller, Finance, Profit