Sugi  Hadiwijaya

Sugi Hadiwijaya has more than 15 years of combined experience in financial services and turnaround management, assisting companies with tasks such as cash management, securing of financing, business plan assessment, M&A activities, and financial modeling in multiple industries.

Sugi previously served as a Senior Vice President for the turnaround group at Deloitte (Deloitte CRG) where he led engagement teams and managed daily client interactions and negotiations with stakeholders.  He authored Cash is King, Deloitte CRG's training program on cash flow forecast and liquidity management. He has published numerous articles, been interviewed and spoken on panels on liquidity management and turnaround matters. In addition, Sugi leads university relations outreach for Turnaround Management Association (TMA), where he cultivates relationships and develops educational workshops with local universities. Sugi is fluent in Indonesian and proficient in Chinese.

Representative Experience
  • Financial advisor to Ruby Tuesday, Inc. Negotiated financing and executed successful restructuring through Plan of Reorganization in a Chapter 11 proceeding.
  • Financial advisor to 200-unit fast casual sandwich chain.  Developed strategic assessment and negotiated forbearance during COVID, providing runway to execute operational turnaround and refinancing.
  • Financial advisor to a privately-owned regional restaurant chain. Secured bridge financing, introduced company to restaurant-centric key performance trackers, and developed budget framework.
  • Interim Chief Financial Officer of Garden Fresh Restaurants LLC, a 98 location CA-based restaurant chain.
  • Acting VP Finance/Controller of $500MM general merchandise retailer. Led finance team and managed liquidity/working capital.

Sugi Hadiwijaya's Insights & Articles

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Why Restaurant Data Analytics are a Necessary Tool for Success
Article

Why Restaurant Data Analytics are a Necessary Tool for Success

Partner, Sugi Hadiwijaya and OverlayAnalytics' Founder and CEO, Bryan Shupe, discuss how similar to challenges around kitchen management, data challenges are multi-faceted, from data compilation and interpretation, to conversion and utilization, and cultural integration with Nation's Restaurant News.

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Value Creation Based on Two Factors: EBITDA/Cash Flow and Capital Structure
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Value Creation Based on Two Factors: EBITDA/Cash Flow and Capital Structure

Dallas-based Partner Sugi Hadiwijaya and Vin Batra discuss the value creation for private companies in respect to two factors: EBITDA/cash flow and capital structure.

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Learn How Fraud and Valuation Matters are Handled During Bankruptcy
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Learn How Fraud and Valuation Matters are Handled During Bankruptcy

Dallas-based Partner Sugi Hadiwijaya recently teamed up with Jermaine Watson at Bonds Ellis on a podcast highlighting basic aspects of how fraud-related matters are managed in a bankruptcy context. Listen to the full podcast brought to you by AICPA's Forensic and Valuation Services Section.

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Lenders as Accidental Restaurant Owners: Four Success Factors of Temporary Restaurant Ownership
Article

Lenders as Accidental Restaurant Owners: Four Success Factors of Temporary Restaurant Ownership

During COVID-19, a significant amount of restaurant bankruptcies saw the lenders taking over the assets when no qualified buyers came to the table. Now that these lenders have become temporary restaurateurs.

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Industry Veterans Combine to Launch National Turnaround and Performance Improvement Firm
News

Industry Veterans Combine to Launch National Turnaround and Performance Improvement Firm

The leadership of CR3 Partners, LLC, today revealed the details of their newly-formed national turnaround and performance improvement firm.

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Project Work

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Ruby Tuesday

Ruby Tuesday

The company was a $300MM private equity-owned casual dining restaurant that experienced sales declines due to industry trends and the COVID-19 pandemic, forcing the company to file for Chapter 11 bankruptcy to reorganize.
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JCPenney

JCPenney

JCPenney is a publicly traded company with 846 corporate locations and 12B in annual revenue that elected to file Chapter 11 bankruptcy due to COVID-19 shutdowns, C-suite turnover, and changes to the business and merchandising plans.
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Retail Marketing Company

Retail Marketing Company

The company was a large consumer products marketing company that had experienced a decline in liquidity, was anticipating continued near-term declines, and had concerns about missing covenants due to an expected 50%+ decline in EBITDA.
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