Successes

Case Study 1

The Problem

After enduring several years of cash flow problems, a set design company had fallen behind in its tax payments, leading to serious personal liability for the owners.

The Work

After performing a very careful diagnostic of the client’s ability to be turned around, Piccolo Business Advisory drastically cut overheads, increased prices and entered the client into an offer and compromise arrangement with the IRS. In addition, all debts with creditors were renegotiated.

The Result

After one year, Piccolo Business Advisory arranged for the client’s merger into a larger set design company, resulting in greater financial enrichment for the owners.

Case Study 2

The Problem

A start-up venture in the confectionary business required a business plan in order to raise $2 million in equity.

The Work

Piccolo Business Advisory constructed a professional business plan and then circulated it to a number of its venture capital/angel contacts.

The Result

The client received its $2 million in capital and went on to grow to such an extent that it engaged Piccolo Business Advisory to construct business plans for subsequent rounds of financing. Years later, Piccolo Business Advisory consulted for the arrangement of the company’s sale to a larger company.

Case Study 3

The Problem

A high definition (non-digital), TV camera manufacturer was losing business at a rapid clip to foreign competition and required the necessary “staying power” in order to reemerge as a competitive electronics company.

The Work

Piccolo Business Advisory contained costs and streamlined operations. In addition, the client’s sales force was revamped to encompass the surveillance TV camera market, which required lower cost cameras, but in greater quantities.

The Result

The client was restored to profitability. It had established a new market for its older but serviceable technology, and had repositioned itself to successfully compete in the market. Within 2 years, Piccolo Business Advisory arranged for its sale to several employees, at great financial benefit to the shareholders.

Case Study 4

The Problem

A chemical company, based in Singapore, was thinly capitalized, and was continuously running into cash flow emergencies. The client’s many bankers and creditors were growing impatient to the point of instituting a possible involuntary bankruptcy action.

The Work

A detailed cash flow forecast was prepared to determine the viability of the business. After determining that a turnaround was feasible, Piccolo Business Advisory arranged for additional investment capital, all the while performing an “out-of-court” reorganization of the client’s debt.

The Result

The client received a $10 million equity investment and a syndicated consolidation loan of another $10 million. The company went on to many future years of profitability until it was later sold.

Case Study 5

The Problem

The CFO of a public relations company had abruptly quit, leaving the company in a lurch. Financial reports to banks were overdue, and certain of the client’s debt covenants were in jeopardy of breach. Additionally, the CFO-void had led to a deterioration of the company’s cash flow situation.

The Work

Piccolo Business Advisory assumed the role of interim CFO for a period of 6 months, and assisted the client in a search for a permanent CFO.

The Result

The client’s situation was stabilized without any distress to its banking relations. A full-time CFO was eventually hired.

Case Study 6

The Problem

A successful office furniture dealership was growing so fast that it required additional lines of credit on an emergency basis.

The Work

A professional business plan was constructed for presentation to a number of banks and lenders. In the meantime, Piccolo Business Advisory updated the client’s financial reporting systems to accommodate the needs of potential lenders.

The Result

The client received a $15 million line of credit and continued to grow. It continued to engage Piccolo Business Advisory to construct business plans for it subsequent rounds of financing.

Case Study 7

The Problem

A Japanese-based advertising company wanted to open a branch of its operations in New York City. It required capital, a location, accounting systems and controls and all the necessities of operating a start-up business, such as a payroll provider, bank accounts, tax ID numbers, etc..

The Work

Piccolo Business Advisory took control of the entire process of starting-up this new advertising company. From establishing a line of credit at a Japanese bank, to negotiating its lease, to implementing accounting software, etc., every detail of the start-up process was successfully addressed.

The Result

The client went on to many years of profitability. It continued to retain Piccolo Business Advisory as an advisor for 10 additional years.

Case Study 8

The Problem

A Connecticut retail mall was suffering cash flow deficiencies as a result of rising costs and poorly constructed leases which were inherited from the previous owner. The mall was on the verge of bankruptcy.

The Work

Piccolo Business Advisory’s real estate specialist performed a complete diagnosis of the mall. The management was replaced with Piccolo Business Advisory acting as managing agent. Costs were cut drastically, and leases were restructured. In addition, a refinancing of the mall was undertaken.

The Result

The client turned a positive cash flow after just 1 year. Over time, higher end tenants replaced the older, inherited tenants. Efficiencies were implemented and the mall was beautified. After several years, Piccolo Business Advisory arranged for its sale at a very high multiple of its improved cash flow.