Frequently Asked Questions About Business Turnaround
Below are answers to frequently asked questions. If you find that your question is not addressed here, please contact us.
1. At what point should I call Rettig?
If you’ve found our website, there’s a good chance now is the right time to reach out. 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. 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 became public? Will people know my company 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?
Privacy and Confidentiality are always practiced at The Rettig Corporation. Under no circumstance will your company or its employees ever be mentioned in an effort to gain exposure for The Rettig Corporation.