The business was suffering heavy losses, resulting in tight cash flow and an inability to attract fresh capital into a distressed balance sheet.
The secured creditor had elected to engage an Investigative Accountant to perform a review on its behalf.
What We Did
Developed a business model and turnaround plan that would return Tieman to its manufacturing core, ‘right-sizing’ overheads, and giving confidence to its key strategic partners.
Procured the support of key stakeholders, both locally and overseas.
Negotiated commercial arrangements with a number of strategic stakeholders, including both secured and unsecured financiers, and key suppliers.
Protected the family from suffering further losses as a result of the business’s demise.
What We Delivered
Saving a 62-year-old family business.
Retained 90 manufacturing jobs.
Delivering a better financial return to creditors than if the company were wound up in insolvency.
A viable go-forward tanker manufacturing business with a significantly simplified business; single site, single operation.
Why They Came To Us
What We Did
What We Delivered
The business was suffering heavy losses, resulting in tight cash flow and an inability to attract fresh capital into a distressed balance sheet.
The secured creditor had elected to engage an Investigative Accountant to perform a review on its behalf.
Developed a business model and turnaround plan that would return Tieman to its manufacturing core, ‘right-sizing’ overheads, and giving confidence to its key strategic partners.
Procured the support of key stakeholders, both locally and overseas.
Negotiated commercial arrangements with a number of strategic stakeholders, including both secured and unsecured financiers, and key suppliers.
Protected the family from suffering further losses as a result of the business’s demise.
Saving a 62-year-old family business.
Retained 90 manufacturing jobs.
Delivering a better financial return to creditors than if the company were wound up in insolvency.
A viable go-forward tanker manufacturing business with a significantly simplified business; single site, single operation.
