Here’s how David helped one of his clients…
He was fulfilling the role of interim CFO for a retail/wholesale business, with 13 locations. The banks were about to wind up the business. The owner hadn’t fully accepted the fact that the business was technically insolvent. He thought the bank was his friend! Within a month, the bank had closed off all credit facilities. Through David’s advice and guidance, the client embarked upon a process of downsizing the business. By closing down seven retail and two wholesale stores – leaving two retail outlets and two wholesale stores alive – the client was able to pay out what they collected and work closely with suppliers to settle outstanding debts.
In this scenario the business was saved by quick and decisive action. The business still operates today, with a much more sustainable, albeit smaller, operation.
Obviously, David prefers to work with businesses to avoid this type of situation. It’s so easy when business growth occurs for things to get out of control. Well planned growth is the key to ultimate success. Having had decades of experience working with all types of businesses, David is extremely adept at spotting potential problems and helping his clients to avoid them.