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(760) 662-9668 info@rettigcorp.com

FAQ: Frequently Asked Questions

If you’ve found our website, there’s a good chance now is the right time to reach out.

Business Debt Turnaround – FAQ

Below are answers to frequently asked questions about business turnaround or reorganization. If you find that your question is not addressed here, please feel free to contact us to ask a question.

1. At what point should I call Rettig?

If you’re considering borrowing further or experiencing any of these challenges, it’s time to contact us:

  • Poor Cash Flow
  • Loss of Customers
  • Actual Bank Covenant Breaches
  • Creditor or Debtor Aging Issues
  • Declining Margins
  • Missed Forecasts
  • Staff Turnover
  • Difficulty Obtaining Financing

2. What is the first step?

Step one is a meeting between Patrick Rettig and the company CEO or owners. This will include an evaluation, and require a full set of financial statements.

3. How long will we work together?

As long as it takes.

4. Is there a contract?

While The Rettig Corporation doesn’t typically require a contract, it will happily accommodate clients who request one.

5. What does this cost?

No two clients are alike; therefore, a standard fee cannot be quoted. Preliminary meetings will address the company’s current financial condition, as well as the course of action to be pursued. Payment structure will be addressed at that time.

6. If my company has poor cash flow, how will it pay your fees?

Our intention is not to add financial pressure to your already trying situation. Our intention is to provide relief, which is why we work out a mutually agreeable plan. Once a price is agreed upon, it will never change. There are no hidden or additional costs.

7. Who will I be working with?

You’d work with Patrick Rettig and his Turnaround Team. On occasion, he introduces associates who specialize in particular areas and at times you’ll work with these experts. Through it all, rest assured that every move is being orchestrated, overseen and scrutinized by Patrick Rettig himself.

8. How often will we meet?

As often as is required to make the plan work. Additional meetings are never an issue, whatever needs to be done, will be done.

9. What will you need access to?

For the first meeting, a full set of financial statements will be reviewed by Patrick Rettig and the company CEO. We may also need to speak with other key players who understand the intricacies of the organization.

10. Will all of my creditors be notified immediately?

Creditors will be notified only when appropriate.

11. Will our relationship become public? Will people know my company is in financial distress?

Rest assured you can count on complete confidentiality. From the moment you commit, this process is designed to strengthen your company and its corresponding relationships.

12. When will I feel some relief?

Immediately.

Business Reorganization FAQ:

(Click a question below to get the answer)

The Early Signs That Your Business Needs A Turnaround?

1) You’re out of your mind and everybody you know has a solution for you, but they’ve never done it before. You have already taken a high-interest loan, or are considering it.
2) Your credit cards are maxed, and suppliers have cut off your credit line. You’ve tried to re-finance your house and there’s not enough equity. Have you already re-financed and taken as much money?
3) IRS, Sales Tax, or Employment tax are all behind with no hope in sight.
4) A feeling that you can overcome all this if you can just find an investor…

Call, text (760) 662 9668 or email info@rettigcorp.com anytime.

Top 5 Mistakes Business Owners Make In a Financial Crisis?

1) Select incorrect professionals to help.
2) Borrow money one more time, high interest, hard money.
3) Ask all employees to take a pay cut rather than lay off unnecessary payroll expenses.
4) Incorrect assessments to the bank, tell them you’ll be able to pay in 30 days or some other impossible time-line.
5) Increase sales and production to a point that crashes what’s left of cash flow and the bank will not increase the line of credit...

Call, text (760) 662 9668 or email info@rettigcorp.com anytime.

Cash Flow Management: The Heartbeat of a Successful Turnaround?

Cash Flow is the order of business, minute one. Through a powerful tool Rettig Corporation has designed, “The Critical Profit” report, a CEO can now keep his finger on the pulse of the company, both on a cash basis and accrual, learning the strengths of both. The learning is a huge leap in the knowledge and wisdom of day-to-day operations.

Call, text (760) 662 9668 or email info@rettigcorp.com anytime.

Why every distressed company needs a Turnaround Specialist?

1) The same reason you need a pilot to land the airplane. It looks easy enough, try it with 300 people on board.
2) The correct Turnaround Specialist must be aware and an expert in the 7 disciplines, Marketing, Sales, Law, Quality Control, Tax accounting, knowledge, and direction. Hard to find, impossible to do without.

Call, text (760) 662 9668 or email info@rettigcorp.com anytime.

Rebuilding trust with Stakeholders during Turnaround?

1) Establishing payment schedules that are strictly adhered to and affordable during the procedures.
2) Continuing to work and purchase supplies from the community, cash on the barrel.
3) Creditors are able to see new sets of financials that are in order and yield way less of a negative into a positive.
Call, text (760) 662 9668 or email info@rettigcorp.com anytime.

Rebranding and Repositioning: Reinventing Your Business Post-Crisis?

Rettig Corporation rebrands the CEO and positions the head or the corporation as a master player who has overcome impossible odds — and now is the premier operator in this current economic playing field.

Call, text (760) 662 9668 or email info@rettigcorp.com anytime.

Overcoming Operational Inefficiencies in Troubled Times?

1) If it’s not making money, directly, the production chain is analyzed and trimmed accordingly.
2) The concept of cheap labor is thrown out the window, and replaced with fewer people, qualified and competent.
3) Overseeing production by the CEO, rather than paying for more managers, gives more inspiration to the troops and keeps quality control in way better order.

Call, text (760) 662 9668 or email info@rettigcorp.com anytime.

Navigating Legal and Financial Challenges in a Turnaround?

1) Super important, all areas must be handled equally so that no one event can tank the corporation. A creditor or a legal action can in fact cripple a company. Correct legal protection is global, not a single line item at a time. This is a Critical Analysis and there is no room for error and no place to “try things.”

Call, text (760) 662 9668 or email info@rettigcorp.com anytime.

The Role of Technology in Modern Business Turnarounds?

Basically, it is a massive overhaul of the backbone of the corporation. Financial reporting, cash flow analysis, project management, bidding correctly — all of it is implemented in the first sixty days, and from then on the learning begins and yields nearly immediately.

Call, text (760) 662 9668 or email info@rettigcorp.com anytime.

Emotional Resilience: Leading a Team through a Business Crisis?

Rettig Corporation takes a company through every aspect of the turnaround teaching the administration how to get out of trouble and stay out of trouble. At the same time Rettig Corporation re-inserts the company back into the marketplace comfortably and successfully.

Call, text (760) 662 9668 or email info@rettigcorp.com anytime.

Success Stories?

1) 10 million in debt, reduced to 2 million, creditors put in order, Chapter 11 Successful. Realizing true company profitability where more is not better, actually less is profitable.
2) A company in foreclosure, being purchased by a competitor — interrupted the Chapter 11 proceedings, recalculated production, and proved to the court that foreclosure would not benefit the creditors, rather allowing the company to continue at a much tighter economic structure. Successful Chapter 11.
3) Family-owned business. 3 million in debt. Filed 11, recovered by instituting a solid infrastructure, accounting, and accountability when bidding jobs, i.e. killing the concept of “low bidder.” Successful Chapter 11

4) NO CHAPTER 11 NECESSARY. Unfortunately, a successful divorce led to the division of assets allowing a single spouse to absorb all the debt, while the other agreed to keep the retirement and give up the company and any debt. Two years later, the company went from zero income to 3 million a year at 60 percent profitability. Needless to say, although divorced, both parties were successful.., to me, it looks like the company was the gold mine, not the retirement.

Call, text (760) 662 9668 or email info@rettigcorp.com anytime.

Is It Too Late?

Knowing When to Seek a Turnaround Specialist? Don’t risk another day — go now — right now — it’s better to be one day closer to freedom, than one day closer to catastrophic loss and chaos…

Call, text (760) 662 9668 or email info@rettigcorp.com anytime.

Are You Facing Business Financial Challenges?

Are you more than a million dollars in debt?

Feel free to share your business's challenges, even if you need more clarification on your next steps.
I’m here to listen and help. Contact me.

"Tell me what's going on. The conversation begins with you. Could you take a moment to send a message? I am here to help." - Patrick

Ask a question or send a message:

RETTIG CORP

Business Turnaround Specialist

P.O. BOX #2676
Riverside, CA 92516

(760) 662-9668

Call anytime day or night...

Talent Booking:

Radio / TV / Internet Appearances
Public Speaking Engagements

eMail: info@rettigcorp.com