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financial restructuring background Financial Restructuring & Turnaround Services Confidential and Dedicated Restructuring Services to Assist Dealers
Through Their Most Challenging Times

Financial Restructuring & Turnaround Services

Kerrigan Advisors’ team of experienced advisors assists dealers as they navigate the restructuring process with lenders, landlords and other creditors to achieve a mutually beneficial outcome. Kerrigan Advisors brings auto retail specific financial expertise when counselling dealers during the critical strategic planning phase of the restructuring process.  Our firm also manages the negotiation process on behalf of dealers and the communications with creditors. Leveraging decades of operational experience, Kerrigan Advisors also assists dealers addressing operational performance issues and turnaround requirements.

Our professionals can assist you with the following needs:
  • Identify potential covenant defaults and review cure options
  • Manage lender, creditor and landlord negotiations
  • Develop go-forward business plans post-default
  • Implement operational restructuring
  • Develop/review cost reduction initiatives and execution milestones
  • Implement cash conservation guidelines and controls

Financial Restructuring Services

Dealers experiencing cash flow shortfalls in uncertain and volatile times may need to consider restructuring their businesses in order to meet immediate cash flow needs. Restructuring may include analyzing the balance sheet and cash flow capabilities of the business, negotiating with lenders and landlords on debt/lease terms, and/or liquidating business components, all with a focus on reducing or converting debt and payables to meet a stabilized cash flow level.

Examples of prior work include:

  • Assisted a dealer with the refinancing of floorplan and real estate loans, resulting in a material reduction in both financing lines.
  • Worked with a large dealership portfolio to restructure loans and leases to ensure dealerships remained operational during the prior recession.

Turnaround Services

During times of declining sales and profits, Kerrigan Advisors helps dealers to identify performance deficiencies and cost redundancies, develop key managers and create tangible action plans to improve bottom line profits, business efficiencies and cash flows.

Examples of prior work include:

  • Developed departmental action plans highlighting areas of opportunity and improvement. With weekly conference calls and monthly site visits to develop the General Manager, the dealership improved from break-even to a monthly profit of $50,000 and projected full year earnings of $800,000.
  • Correspondence with OEM’s on performance deficiency letters with corrective action plans.
  • Reviewed and implemented performance-based compensation plans for a dealer’s management personnel and brought all other pay plans into compliance.

We Look Forward to Connecting With You

Contact us to learn more about Kerrigan Advisors’ financial restructuring & turnaround services. All of our conversations are 100% confidential.

Our Reputation

Kerrigan Advisors is honored to have advised the nation’s leading dealers through the lifecycle of growing, operating and monetizing their businesses.  We are proud that every Kerrigan Advisors’ client is a referenceable client. 

"With such a complex transaction and information so sensitive, we only wanted to make one call."

Ed Tonkin

2010 NADA Chairman, Former Co-President of Tonkin Family of Dealerships, 88th Largest Dealership Group

"Having Kerrigan Advisors as a partner gave me the confidence to move forward with the sale."

Patti Swope

Former Owner of Sam Swope Auto Group, 89th Largest Dealership Group

"Our sale process was a great success thanks to Kerrigan Advisors."

Darryl Holter

Former CNCDA Chairman, CEO of the Shammas Group, Former Owner of Downtown LA Auto Group, 55th Largest Dealership Group

"Kerrigan Advisors’ team was invaluable to our once-in-a-lifetime sale."

Steve Bloomer

Former Owner of Village Automotive Group, Lexus of Wayzata, Lexus of Maplewood and Village Chevrolet

"We could not have completed this sale without the guidance and expertise of Kerrigan Advisors."

Enessa Carbone

Chief Executive Officer of Carbone Auto Group, 94th Largest Dealership Group