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Testimonial

Client:   IGS Store Fixtures, Peabody, MA
Focus:   
Management Reorganization, Financing, and Staffing
Historical Perspective:

IGS, a $4 million manufacturer of store fixture products for the retail industry, served accounts such as Barnes and Noble and Marshalls.

When Robert Ryan Management Consultancy (RRMC) was retained, the company had just reported an annual loss in excess of $400,000; had pending state and federal tax liens in excess of $250,000; was being evicted by its landlord; and was on the verge of having its bank loans called.

As a result of meetings with all of the major creditors, the taxing agencies agreed to payout plans; the landlord forgave $70,000 of past debt and reduced future rents; and the bank entered into a 30-month forbearance agreement.

Under our close direction, the company underwent a complete internal reorganization and returned to break-even within six months. RRMC then identified an investor who provided a $400,000 capital infusion to the company. As part of the overall reorganization, we recruited the company’s current president, vice president of finance, and its vice president of sales.

Current Status:

IGS has now grown to a $20 million company with annual earnings in excess of $1 million. The three-person management team recruited by Robert Ryan Management Consultancy still runs the company today.

“IGS came within an inch of going under. If it wasn’t for Bob Ryan and the people he introduced to this company, 150 jobs wouldn’t be here today. The bankruptcy lawyer Bob brought in was so good that he’s now our corporate counsel. Looking back at it all I am still amazed at how he put all of the pieces together. Please feel free to call me anytime for more information.”

– Dominic Butera, President, IGS Store Fixtures

 


Email: rryan@rryanconsultancy.com