Printer and Bindery Operations

Book printing and binding operation with $15,000,000 in annual revenues. A&JC assisted the Company in preparing financial forecasts used by their existing lender and refinance lender. The company had prepared several prior forecasts that they failed to achieve which created an adversarial relationship with their existing lender. The preparation of realistic forecasts of operations and collateral were used by the existing lender to establish realistic performance objectives as part of the forbearance agreement. The forecast was also used in support of management’s request for reduced staffing and fringe cost payments during negotiations with existing labor unions.

Through more detailed and accurate forecasting, the company was able to focus on identifying and implementing necessary cost reductions. In addition more detailed sales forecasting and monitoring provided the company with a more timely measurement of performance. Forecasts developed for monitoring performance were ultimately provided to a replacement financing source to take out the original lender which allowed the company to work without forbearance restrictions implemented by the original lender.