Turnaround & Workout Management
Sterling Management Group offers a process-driven approach to quickly assess a distressed company's situation and offer stakeholders clear recommendations regarding moving forward. We start by undertaking a Situation Analysis which provides a clear, factual assessment of the current situation, including a review of its products, services, operations, capital structure, reporting systems and controls and management team capabilities. We analyze the situation, determine the immediate needs and  then develop effective action plans.

The next phase is to implement a recovery plan, which often involves re-engineering the company's processes and rationalizing its operations. To obtain optimum results, our professionals are available to assume key managerial roles within the company on an interim basis. We attend to the vital aspects of the business - cash flow, bank and creditor relationships, and vendor and employee relations.

Our professionals are experienced in all aspects of reorganization and rehabilitation, including bankruptcies and non-court appointed reorganizations. Using our proven process and focused approach, Sterling Management Group helps companies emerge in a rehabilitated state. We work with the management, equity holders and creditors to determine the key indicators for the business and develop methods to monitor performance. We establish methods, systems and procedures designed to help the company avoid future pitfalls that can lead to a crisis recurrence.

Interim Management
Most company leaders are not experienced in crisis situations. The chaos associated with cash flow problems, customer issues, vendor problems, etc. can be overwhelming. Whether management is experienced at operating a profitable business or is inexperienced at overall management, their ineffectiveness at dealing with a crisis may be making matters worse for the company. The multiple priorities and uncertainty coupled with new situations, makes troubled times difficult for most managers.

Regardless of how a company gets into difficulty, Sterling Management Group can provide experienced professionals who can quickly guide the company to recovery. By assuming leadership roles within a troubled company by either replacing or guiding incumbent management, we are able to identify problems and implement solutions that might otherwise remain hidden from the company's management team. Our competence, sense of urgency and unclouded vision enables us to provide professional management and leadership at a time when it is needed most.

Once change is effected and the company is set on the path to recovery, Sterling Management Group then helps the company hire replacement managers to ensure that the recovery can be sustained.


Bank & Creditor Negotiations
When companies experience problems, the symptoms of declining availability under bank lines of credit and associated cash flow tightening can also be associated with mounting creditor pressure for refinance and quick turnaround.

In such situations, a company's first need is to assess the situation at hand and immediately stabilize the situation. At the same time it is imperative that we identify root problems and establish a clear path of recovery. Having stabilized the situation and developed a plan for recovery, the next step is to present the recovery plan to interested parties - including the company's lenders and its other creditors - in order to obtain their support for the plan.

The professionals of Sterling Management Group are experienced in creating recovery plans which address the diverse needs of a company's stakeholders, and then negotiating with bank groups and creditors to enable the implementation of the plan. This approach preserves the ongoing value of the business. Our hands on approach helps the company re-establish credibility with its key constituents and major funding sources.

Sterling Management Group understands both the needs of the company and the requirements of lenders. We are able to provide an outside opinion and calm approach to the negotiations which in turn result in a successful outcome for all parties.