top of page
SH blue fade header case studies.png

Case Study
Pre
sident & CFO
Aerospace Manufacturer

A manufacturing company in the aerospace ground equipment market with $10- $15 million in revenue filed for Chapter 11 reorganization.

Situation

Turnaround & Restructuring Initiatives

  • The company operated a niche business manufacturing precision weight & balance equipment for the aerospace industry.
     

  • The company was very profitable, generating 25% to 30% EBITDA annually.
     

  • Due to litigation resulting in a judgment against the company, management decided to reorganize through Chapter 11.

An executive was brought in post-filing to serve as President & CFO and executed the following initiatives.

  • Rebuilt accounting processes to provide consistency, accuracy, and integrity in financial reporting.
     

  • Developed rolling cash flow forecasts by week.
     

  • Managed all reporting to the court.
     

  • Worked with bankruptcy counsel to develop the Plan of Reorganization.
     

  • Provided expert testimony supporting the company’s financial capabilities and feasibility of the Plan.
     

  • Led discussions with creditors to seek approval of the Plan.
     

  • Worked with counsel to settle with and gain support of the Plan from the largest creditor, which held a judgment against the company.
     

  • Provided all documentation and certifications to satisfy court requests and successfully exit bankruptcy.

Results

  • The Plan of Reorganization achieved a 100% payout to both secured and unsecured creditors.

  • The Company survived bankruptcy and grew to be an industry leader and major supplier to the aerospace and airline industries as well as the U.S. military.

bottom of page