Turnaround, Workout and Profit Improvement

B. Riley Advisory Services offers advisory and interim management services to businesses that are undergoing operational or financial difficulty or are engaged in a bank workout situation. We help businesses create and implement a turnaround plan and concentrate on essential business practices that may have been deferred or disregarded.  B. Riley Advisory Services can help management in the following:

  • Reducing losses
  • Regulating expenses
  • Increasing liquidity
  • Developing business processes
  • Divesting non-core businesses
  • Coordinating communications between lenders and creditors
  • Acting as a sounding board for management
  • Taking on interim management level assignments, including Chief Financial Officer, Chief Executive Officer, Chief Operating Officer, Chief
  • Restructuring Officer and Treasurer

B. Riley Advisory Services is regularly retained to provide temporary leadership in a management team following a change in ownership, departure of a key employee or during an acquisition, sale or divestiture of a business. We handle this until a permanent replacement can be found.

In a two-phase process, B. Riley Advisory Services examines, suggests and supervises specific procedures to help a business turnaround.

Diagnostic Phase

  • Diagnostic overview of operations and strategy
  • Recommendations for revenue enhancement, cost reduction or working capital management improvement
  • Review cash flow forecast and business plan, or if none exists, assist in preparing them
  • Help in presenting updated business plan and financial projections to lender
  • Develop an implementation plan

Implementation Phase

  • Update cash flow projections
  • Prepare strategic and operating plans
  • Recommend personnel modifications
  • Execute required operational and/or strategic enhancements
  • Confirm capital structure will aid recommended initiatives
  • Establish regular dialog with lender, including milestones and reporting

We have successfully overseen and finished turnaround management assignments lasting from several months to over a year. Our presence serves as a catalyst for change - facing tough choices and encouraging consensus for going-forward business plans.