Retail Turnarounds
A retail turnaround is vital for a business that is no longer generating the budgeted profits!
Or worse, losing money!
Are you an owner, investor or CEO and are looking to reposition your retail business?
We at Foley Retail Consulting are experts in evaluating and implementing turnaround situations. We know how to conserve resources, we know how to restructure overheads and teams and we know how to identify new strategies, which will set a retail business going in a positive direction. When a retail business is in trouble, fast and decisive action is required.
Retailers tend to go bankrupt first very slowly and unremarkably until they reach a point where everything happens very suddenly! They just run out of money to pay the suppliers and staff. Foley Retail Consulting will react fast when engaged in a turnaround situation. The first step is creating a business plan that enables some head room to reverse the problem of reducing cash flows and then a process of changing business direction will be designed by us. If a business is unfixable in our opinion, we will declare it at the preliminary investigation point!
We can help! We provide an objective, unattached view of what needs to be changed, coupled with hands on turnaround experience.
Foley Retail Consulting uses the following methods to generate practical solutions:
- Benchmarking best practices and analysing why there is a gap between actual and budgeted performance
- Developing cost control budgets which are practical and radical enough to prevent insolvency to fit immediate and future revenue stream
- Immediate action plans to achieve new budgets, including some FRC partners performing short term interim management
- Creating a solid operational strategy (or re-evaluating an existing one to fit the new revenue expectations)
- Complete restructuring of the organisational structure, including current management evaluation, responsibility matrix and job descriptions
- Forming a project management team to lead the turnaround
- … or supporting an existing management to ensure change and restructuring is driven through
Read more about our Retail Turnarounds Expertise!