Stuck positions
What does an operating adviser do in a workout?
In a workout, the operating adviser holds the pen: negotiating with creditors, keeping the business running, and making the calls a conflicted board can't.
We take the Chief Restructuring Officer role when a business is in a workout. Someone has to hold the pen.
A partner runs every operating engagement directly. There's no bench to hand you off to. That's why we take on few of these and say no quickly when the fit is wrong.
We've built, run, turned around and sold operating businesses. We take a seat only when the mandate is clear and the authority is real.