Turnaround and Sale of Distressed Accounting Practice
General Accounting and Bookkeeping
Phoenix, Arizona
$800,000 (down from $1,500,000)
Financial distress and operational challenges
Project Timeline
Project ID: 2313
Listed: 2023-06-01
Closed: 2023-10-10
Time to Sale: 56 days (from listing)
Our Approach
- Implemented immediate cost-cutting measures
- Restructured service offerings to focus on profitable niches
- Negotiated with creditors to stabilize financial position
- Revamped pricing strategy for sustainability
- Identified and approached potential buyers experienced in turnarounds
Our Outcomes
Sale Price:Reduced operational costs by 30% without compromising service quality
Client Retention:Increased average revenue per client by 25% through service restructuring
Deal Structure:Negotiated 20% reduction in outstanding debts with creditors
- Attracted buyer offering 50% cash upfront and 50% based on 2-year performance
- Secured 18-month employment contracts for 80% of staff to ensure continuity
Congratulations!
