Digital Media Services Provider

The Situation

  • $68MM private distribution, logistics, digital media and licensed merchandiser with 250 employees
  • Services included press kit assembly and distribution, licensed consumer product distribution, and theater lobby physical and digital display management
  • Company was in loan default and was not providing adequate information to lender group

Role(s)

  • Interim Chief Financial Officer

The Work

  • Assessed the current year business plan and identified areas of opportunity, risk, and feasibility
  • Analyzed operations for cost, quality, and delivery across all customer types
  • Confirmed liquidity needs for 4thquarter with the management team and existing external support
  • Evaluated overhead levels and opportunities to become more efficient and effective
  • Served as Interim Chief Financial Officer performing traditional daily responsibilities
  • Worked with incumbent CFO to transition internal and external relationships and institutional knowledge
  • Further assessed existing financial systems, making recommendations regarding new policies, procedures, reporting protocols, and operating systems

The Results

  • Delivered assessment report with findings, conclusions, and recommendations to company
  • Lender foreclosed on assets and focused on integrating systems, rationalizing the footprint, and growing the company before selling it
  • As interim CFO, implemented changes as appropriate and coordinated efforts to identify and hire permanent CFO

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Overview

  • Media
  • Assessments

Engagement Team