Restructuring is the act of modifying the debt, operations, or structure of a company with the intent to make it more profitable or better organized.
Restructuring may be necessitated for financial reasons such as a bankruptcy or debt default or it may be the result of a healthy business developing financial and operational strategies that will improve liquidity or capture growth opportunities. Ardegy can provide you with a Chief Restructuring Officer or an Independent Director that will help you identify your company’s restructuring needs and options, and lead you through the process.
Chief Restructuring Officer
A Chief Restructuring Officer (“CRO”) is a senior executive hired by a distressed company to help renegotiate a company’s finances and credit arrangements. If a bankruptcy filing is necessary, the CRO will navigate the company through the process and help develop and implement the post filing restructuring plan. Having a CRO involved with the process helps creditors, shareholders, and customers gain confidence and provides senior management with a fresh perspective that is unconstrained by existing paradigms.
At Ardegy, we have the broad knowledge and restructuring experience necessary to help you stabilize the business. We can provide a CRO to work with your existing management team or if preferred, assume the role of interim CEO.
Independent Director
An Independent Director is a member of the Board of Directors who does not have a material or pecuniary relationship with the company. Having an Independent Director can be particularly beneficial for privately held businesses, family owned businesses, or distressed businesses. An Independent Director can provide a unique expertise that is outside of the company’s core competency, a fresh viewpoint without a vested interest, and an enhanced level of credibility with outside stakeholders.