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Listen as Huron’s Jim Lukenda discusses the outlook for the restructuring environment into 2012. Hear his thoughts on the effects of events and decisions made during 2010 and 2011 and the hard decisions these may require companies to make. Also, hear his views on how companies have addressed the current malaise and how those actions have focused lenders on the quality of company management.
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Interim Management and Financial Advisor to Trucking & Logistics Company
Huron is currently serving as the interim CEO and financial advisor to a $300 million multi-national, trucking logistics and specialized transportation company. In that role, we are crafting and leading the strategic, operational and financial turnaround of the company to position it for long term success amidst a shifting, complex industry paradigm.
Our work thus far has resulted in significantly enhanced liquidity through aggressive cost controls, stabilized relationships with sophisticated, multi-national customers, and the implementation of strategies to increase pricing and profitability. To achieve these results, we prepared a 13-week cash flow forecast and three-year financial plan integral to monitoring liquidity, lender compliance and long term strategy development; developed pricing models and analytical strategy for contract discussions with OEMs; addressed organizational and related personnel issues, including reductions in force, wage reductions coupled with incentive plan modifications and insurance matters; raised the company's Information Technology profile through GPS driver/load tracking roll-out and development of customer facing portals; provided the strategy necessary to successfully modify labor agreements with two separate unions; expedited the development and production of the company's key R&D initiative critical to customer maintenance and integral to new customer additions; developed enhanced infrastructure to track and control the company’s circulating inventory; developed multifaceted hiring strategy to ensure driver capacity kept pace with rapidly increasing volume; raised the profile of the company's Mexican subsidiary emphasizing its low cost, sophisticated, non-union workforce; implemented a performance driven culture focused on measurable cash results throughout the organization; renegotiated all vendor relationships, successfully improved employee recruitment and retention programs, emphasized field safety as the highest priority, which translated to various insurance renewals at greatly improved terms; established a proactive independent Board of Directors; and improved owner and lender relationships, including successful negotiation of improved lending facility terms, which better positioned the company to make significant strategic capital investments required for continued growth.
We continue to seek appropriate measures to revise the company's capital structure and emphasize opportunities for organic growth by building a more competitive business model. |
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News – In the Press
Bankruptcy League Tables
The Deal
November 28, 2011
Healthy Steps: A hospital administrator’s struggle to save Doctors Medical Center
Richmond Confidential
November 28, 2011
Outstanding Turnaround Firms
Turnaround & Workouts
November 1, 2011 |
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Brian S. Buebel
With more than 17 years of experience in corporate turnaround and bankruptcy, Brian has worked in a wide array of industries and has extensive experience in most facets of turnarounds and bankruptcies. His bankruptcy experience includes: interim management; preparing companies for potential filings; advising management on appropriate courses of action; negotiating with Creditors, Debtors and Customers; consulting in areas of bankruptcy law, including statutory requirements and company operations in Chapter 11; and financial modeling. His turnarounds experience includes: developing overall strategy; preparing and analyzing cash flows; reducing costs; devising and implementing strategy; assessing customer and product profitability; liquidating inventory; restructuring debt; restructuring operations and preparing communications with internal and external parties. Some of Brian’s projects have included Debtor representation in: Forum Health (3 hospital system in OH), a 2 hospital system in WV, United Airlines and Delta Air Lines. His recent creditor experience includes Northern Berkshire Healthcare. He has spoken on various topics, including healthcare restructurings, the responsibilities of Directors in distressed situations and Chapter 11 generally. Brian also recently authored the paper Practical Considerations for Dealing with Health Care Business Closing Costs - Is Section 503(b)(8) necessary? |
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Huron Consulting Group helps clients in diverse industries improve performance, comply with complex regulations, resolve disputes, recover from distress, leverage technology, and stimulate growth. The Company teams with its clients to deliver sustainable and measurable results. Huron provides services to a wide variety of both financially sound and distressed organizations, including leading academic institutions, healthcare organizations, Fortune 500 companies, medium-sized businesses, and the law firms that represent these various organizations. Learn more at www.huronconsultinggroup.com.
Huron's Restructuring & Turnaround Group has a proven track record of success maximizing value. We provide comprehensive solutions to companies in transition, creditor constituencies, and other stakeholders in connection with out-of-court restructurings and bankruptcy proceedings. Our professionals work closely with management to create, analyze, lead, and implement strategies to improve and enhance operational and financial performance, as well as the capital structure in order to maximize enterprise value for all constituencies. Our flexible staffing model, experienced leadership, and management depth allow us to efficiently lead projects for companies of varying size.
Learn more about Huron’s Restructuring & Turnaround team.
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