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History
The Recovery Group began in Boston in 1981, when Managing
Principal Stephen S. Gray founded the firm's predecessor, Gray and Company,
to provide turnaround and crisis management services for public and private
companies, general creditors, secured parties, acquirers of non-performing
companies and judicial bodies.
The Recovery Group has grown in size and stature from its Boston headquarters
as a member of the national turnaround industry and the international enterprise
restructuring effort that followed the failure of communism in Central and
Eastern Europe. From a small group of consultants in the early 80s to more
than 40 professionals today, the firm has adapted to the needs of clients
and the evolving business turnaround industry. Gray and Company incorporated
additional partners and operated as Gray, Shifman and Storey Ltd. from 1987
to 1989. The firm combined resources with Asset Recovery Corporation, built
the international restructuring practice and changed the firm's name to
The Recovery Group in the early 90's. In the mid-90s, The Recovery Group
merged with Bristol Group and opened its first U.S. office outside of Boston.
In early 2002, The Recovery Group, while retaining its original name, adopted
the brand "TRG" in order to simplify reference to the firm by
clients, referral sources, and other members of the firm's professional
community.
TRG has successfully managed distressed business situations across virtually
all industries. The firm plans to establish roots in business centers across
the country and presently maintains offices in Boston, Charlotte and New
York. Internationally, after improving performance or restructuring over
300 companies in thirteen Eastern European countries, the firm has chosen
to wind down that practice, although offices remain in Poland and Lithuania.
Working closely with client management, TRG develops and implements comprehensive turnaround programs that increase value
through by improving operations and asset performance, refocusing business models and restructuring debt. Our typical assignments involve:
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Stabilizing operations and financial crisis; |
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Analyzing operating economics and cash flow dynamics; |
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Developing detailed action plans to rationalize operations, lower breakeven, and improve operating leverage and cash flow; |
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Restructuring financial obligations to match cash flow potential; |
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Redesigning business models to be more competitive; including rationalizing SKU's, channels of distribution and management layers. |
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Advocating our client's turnaround strategy to various constituencies. |
As TRG continues to expand in size and geographic presence the firm is committed to remaining broadly based but narrowly focused - that is, offering broad
services within the context of distressed businesses. Regardless of the business or type of engagement, the mission of our operationally oriented turnaround
professionals is to determine, manage and restore value.
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