Restructuring

ClearRidge provides discrete, professional and effective representation in the restructuring of a midsized private business. Our team has decades of experience completing complex restructurings. Clients hire ClearRidge to ensure that the process of restructuring their company is confidential and that we achieve the best possible outcome, in a timely manner and with minimal disruption to their employees and their business.

We understand the issues that affect business survival and financial strategy in stressed situations. Returning to profitability and salvaging viable assets involves a variety of options and decisions for company owners, creditors, and stakeholders. In these situations, ClearRidge brings knowledge, stability and positive action to identify the causes and resolve the financial troubles. Clients rely on ClearRidge to negotiate directly with vendors and creditors to create a plan with the critical steps to achieve success and satisfy obligations that are acceptable to all parties.

ClearRidge provides discrete, professional and effective interim CFO services. Clients rely on our team to provide CFO services on a short-term basis, to analyze and review financial systems, policies and controls, to analyze how the company’s financial systems align with the strategic direction and needs of the company, as well as to manage the financial and accounting staff and make recommendations for hiring. Specific needs can include financial modeling, forecasting and budgeting, cash flow management, expense controls, financial reporting, vendor and creditor management, as well as accounting systems.

ClearRidge provides discrete, professional and effective turnaround advisory services. Clients rely on ClearRidge to conduct independent analysis of the situation and provide an unbiased and credible evaluation for creditors to allow time to turn the company around.

Turnarounds require direct and decisive action amidst the stress and uncertainties of a struggling business. ClearRidge will negotiate on our client’s behalf, advise management on appropriate steps and set clear goals for individuals, divisions and business units. ClearRidge will communicate with creditors and negotiate on our client’s behalf, relying on the strength and depth of our professional team and trust and respect in our outside business relationships.

ClearRidge provides discrete, professional and effective Chief Restructuring Officer (CRO) services. A CRO brings credibility and objectivity to the restructuring process, drives the process, creates stability and builds consensus among the stakeholders for the restructuring plan. Clients rely on ClearRidge to create a restructuring plan that demonstrates short and medium-term viability (supported by credible assumptions), to identify profit and cash improvement opportunities, create monthly budgets, manage cash flow, lead forbearance and restructuring arrangements with senior lenders, communicate and negotiate with creditors, lead negotiations of out-of-court settlements and pre-emptively plan for bankruptcy filings if is required.

ClearRidge provides discrete, professional and effective Receivership services. ClearRidge is called upon to be a Court-appointed Receiver, whereby the Receiver has control and responsibility to operate the business assets or estate at the request and direction of the Court. Responsibilities include the preparation and implementation of operating budgets, preparation of monthly financial statements, forensic accounting and investigation, payment of invoices, oversight of managers and employees, negotiation of leases, accounts receivable collections, and managing the sale of the business or assets.

In restructuring, turnaround projects and some receiverships, ClearRidge prepares for a divestiture of assets or a sale of the company. In the event that stakeholders determine that divestiture is the best way to maximize value, we are already position to go to market. Rather than delay a further 60 or 90 days to get ready for a sale, we are already prepared to go to market and are able to move very quickly. In distressed situations, time is money.

ClearRidge has extensive experience in changing ownership, asset sales, mergers and acquisitions for distressed middle-market companies. These situations may involve liquidating assets, or selling a company quickly and under extremely troubled circumstances, often in contested environments, in and out of bankruptcy.

While ClearRidge typically serves as the sell-side advisor and intermediary in these transactions, soliciting and negotiating the sale of the company, we have also advised the buyer acquiring a distressed company.

ClearRidge provides discrete, professional and effective Debtor assessment. Our clients rely on us to assess the credit risk (loan default risk) by thoroughly analyzing a business, its operations, financial performance and the market in which it operates.

ClearRidge provides discrete, professional and effective Business Monitoring for banks. Initial lending decisions are based upon the application of credit rules, including affirmative and negative covenants. In the case of troubled loans, banks rely on ClearRidge to monitor these covenants, loan collateral and the overall business on a monthly basis.