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Financial Advisory

When TRG handles the detailed analysis and, if necessary, management of difficult situations, credit issues can be resolved before they threaten the survival of a company. Increasingly, stakeholders seek our help to ensure their own analysis is comprehensive and validated by an independent source and to build consensus for strategies that maximize value.

Our approach is disciplined, predictable, proven and effective. Once we have a clear understanding of the engagement and the desired outcome, we identify the issues behind severe business problems and use financial models to integrate income statement, balance sheet and cash flow projections.

Using our experience, analysis and expertise, we develop a realistic plan of action that includes restructuring debt and identifies opportunities to rationalize operations or refocus the business. We gain the confidence of company management, which increases their willingness to modify their plan and its implementation. Throughout the process, we maintain an active and open dialogue with creditors and company management to build consensus and make sure all parties have a clear understanding of the facts.

Our services include:

	In-depth financial and operational review of companies
	Assessment of business/turnaround strategies, proposed business plans and related risk factors
	Valuation analysis of businesses, their components and assets
	Analysis of financial alternatives
	Development and management of wind-down and liquidation strategies
	Due diligence for pre-loan/pre-investment analysis
	M&A advisory
	Workout consulting
	Liquidation consulting and management
	Bankruptcy consulting
	Litigation support
	Receivership

Financial and operational review
TRG reviews a company's historical financial performance against its financial projections to develop an assessment of the business plan and its risks.

	We review operations to assess potential areas for improvement and capabilities to achieve the projected financial performance.
	By using proven modeling techniques, TRG can develop its own model to assess potential cash needs and profitability, at the level of detail that provides the clearest support for the desired results.

Business/turnaround strategy assessment
Drawing on our knowledge of the needs of lenders, creditors and investors, we use a straightforward, predictable process to deliver results

	Determine the outcome: TRG uses its experience to assess how achievable the proposed turnaround strategy or business plan is in relation to current market conditions and other operational issues.
	Evaluate management: TRG assesses management's ability to implement the proposed strategy and plan.
	Assess interests: The position of other stakeholders (creditors, suppliers, minority shareholders, key employees and customers) is investigated to determine potential risks in achieving the proposed plan.
	Tweaking the plan: TRG identifies changes to the strategy and its implementation, as well as its proposed capital structure, that would minimize execution risks in achieving the desired outcome.

Vendor Management
Companies experiencing cash flow difficulties will usually, by design or default, attempt to get the vendor base to carry a portion or all of the short fall. This circumstance generally puts the purchasing agent, CFO, owner, etc. in a situation they are not trained or equipped to handle. Convincing the trade that it is in their and the company's best interest to increase credit by producing an acceptable and disciplined business plan that shows recovery and repayment - when the vendor's every instinct calls for retrenchment - is part art and science. TRG can provide the expertise and leadership to get the job done, either in an advisory/training role or by direct involvement.

Our services include:

	Managing the process
	Deciding who, when and why a vendor gets paid
	Handling collection/attorney calls for payment
	Structuring of restructured payment arrangements
	Negotiating credit limit increases
	Pushing days outstanding before payment to their maximum
	Preparing, developing and conducting the general creditors meeting, if necessary and instrumental to restructuring
	If a filing is inevitable, TRG provides guidance on the proper way to handle the trade.

Liquidation Managment
TRG develops liquidation analysis to assist in evaluating the optimal strategy available for clients that includes the following recommendations:

	The preferred method of liquidation
	A budget to assess the cash needs during the liquidation process
	Strategies to maximize value of receivables
	Strategies for dealing with vendors and other creditors

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