The refit yard. Capital is committed; the next decision determines what can be recovered.The scenes are illustrative; no client company, project, creditor or transaction is depicted.
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BUSINESS CONSULTING Turnaround & Special Situations
When the Current Plan Stops Working, Time Becomes Capital.
We diagnose liquidity, debt, operations, assets and strategic alternatives to determine what must be preserved, cut, refinanced, sold, acquired or rebuilt.
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The refit yard. Capital is committed; the next decision determines what can be recovered.
Establish what must be preserved.
We diagnose liquidity, debt, operations, assets and strategic alternatives to determine what must be preserved, cut, refinanced, sold, acquired or rebuilt.
The refit yard. Capital is committed; the next decision determines what can be recovered.
First diagnostic
The first review should establish:
- unrestricted cash
- weekly cash burn / generation
- receivables quality and timing
- payables and critical vendors
- payroll and tax obligations
- debt maturity schedule
- covenants and defaults
- secured collateral
- customer concentration
- gross-margin and contribution economics
- loss-making products / locations / contracts
- non-core assets
- management bottlenecks
- litigation / regulatory constraints
- contracts that can be renegotiated or terminated
- available financing
- realistic transaction alternatives
The refit yard. Capital is committed; the next decision determines what can be recovered.
Decision sequence
Preserve what creates cash, strategic value or irreplaceable capability.
Stop activities that consume liquidity without supporting the end-state.
Renegotiate debt, leases, vendor terms, customer terms or other fixed obligations where leverage exists.
Monetize non-core assets where proceeds are worth more than retaining them.
Recapitalize if new capital buys a credible path rather than simply delaying failure.
Sell / combine when another owner can realize more value than the current structure.
The refit yard. Capital is committed; the next decision determines what can be recovered.
Restore control under pressure.
Liquidity crises, working-capital pressure, margin collapse and customer / vendor concentration can interact. Management and operating triage must establish what preserves cash, which dependencies cannot fail and which actions merely postpone a worse outcome.
Build a 13-week cash-flow view, a debt and covenant map, stakeholder sequence and a board / lender decision package. Diagnose payroll and tax obligations, critical suppliers, collateral, loss-making contracts and realistic financing alternatives.
The refit yard. Capital is committed; the next decision determines what can be recovered.
The project under pressure.
A yacht refit under a gantry at night is a project under pressure: capital is already committed, the asset is incomplete, obligations continue and every delay narrows the choices. The physical work is visible; the liquidity, creditor, contract and operating constraints are not.
The decision is the ordered sequence applied under a deadline: what to preserve, what to stop, what to renegotiate, what to monetize, whether new capital buys a credible path, and whether another owner can realize more value. The cash view is weekly, the debt and covenant map is current, and the invalidation condition for the chosen path is written before the path is taken.
The Cash Runway engine models thirteen monthly periods from the company's own assumptions. It is not the 13-week forecast a turnaround engagement builds; it is linked here as the first arithmetic of the position, not as a substitute for the weekly model. The refit yard is illustrative, not a GCP project or client. Options are shown, not a guaranteed rescue.
The refit yard. Capital is committed; the next decision determines what can be recovered.
The Last Path
Find the strongest remaining lawful, economically defensible path when obvious options have closed.
Preserve → Stop → Renegotiate → Monetize → Recapitalize → Sell / Combine / Continue.
A distressed sale, strategic combination or orderly change of direction can preserve more value than defending a dead plan. Continue only when law, economics, duties, factual reality and the invalidation conditions support the path.