myCPE
myCPE

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