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TAIGA was introduced to a loss-making business that was asset rich but faced a short term cash challenge.
TAIGA undertook to support the Directors in a forming and implementing a restructuring plan and the closure of certain loss-making business segments. The group has now recovered to profitability and has ongoing support from it’s funders.
Advisory support continues.
Loss making business operating with one large underperfoming contract, limited financial information, a range of corporate governance issues, no plan and an ever-worsening funding position which had seen debt rise substantially over the recent past.
Provide a diagnostic review to the business and then work with management to improve cash management techniques, build a 3 year recovery plan including significant financial restructuring, improve corporate governance and management information systems whilst also increasing accountability, targets and responsibilities to the wider team. Operational improvements and management team strengthening will form a key component of the plan.