Your Loan has Been Assigned to Special Assets...What Now?
Next Steps
There is a whole discipline around the process of turning a company around, which is outside the scope of this article. Examples of changes needed to restore a business to profitability include staff cutbacks, reduction in physical plant, renegotiating your loans and trade debt, salary and benefit reductions, restructuring both inside and outside of bankruptcy, and a sale of the business to a stronger entity. Each one of these steps has a cost and a benefit that should be carefully considered and quantified before inclusion in the company’s plan presented to the bank.
Mark Hahn is a managing director and founder of Graphic Arts Advisors, a boutique strategic financial advisory and consulting firm focused exclusively on the printing, packaging, mailing, marketing services, brand management, and related graphic communications industries. With more than 35 years of graphic communications experience in the areas of finance, operations, sales, M&A, and general management, Hahn has served as chief financial officer, chief operating officer and other senior positions with several commercial printing companies, as well as founding and eventually selling his own printing company.The firm assists company owners and management, as well as their lenders, investors and shareholders in the following areas: mergers and acquisitions, sale of business, strategic and financial advisory, capital structure and funding, financial analysis, interim and turnaround C-level management, business valuations and serving as consulting experts. Hahn is the author of The Target Report and is regularly published and quoted in printing industry trade and management journals. Mark Hahn can be reached at (973) 588-7399 or mark@graphicartsadvisors.com