DISTRESSED BUSINESS MANAGEMENT The largest segment of our practice involves assisting businesses experiencing financial distress. Coy & Associates Inc. brings an independent perspective, free of historical bias, to a wide range of tasks. These range from developing a business plan to quickly identifying problems and/or implementing operational alternatives or solutions. We prefer to become involved while alternatives to bankruptcy proceedings are still available. However, if filing is imminent or already in place, Coy & Associates Inc. can provide, if necessary, full time on site personnel to expedite the bankruptcy process and provide a link between the business and the legal community. Following an analysis of the business, which normally must be completed quickly, we recommend the strategy necessary for a turnaround.  While every situation is unique, some of the steps typically followed are:   •  Gain control of cash flow, seeking to accumulate cash and eliminate unnecessary drains. •  Investigating defalcations and fraudulent transactions together with related documentation and testimony. •  Stabilize the business, management and staff. •  Identify key personnel and evaluate the role they can play. •  Analyze business lines that should be retained and expanded, or eliminated. •  Negotiate with creditors to restructure debt, maximize cash flow and retain support. •  Work with counsel concerning the legal rights of equity and debt holders, litigation issues, labor and environmental problems, reorganization matters and financing considerations. •  Develop a reorganization plan, assist in its implementation, and aid counsel in guiding it through the legal process.         HOME          5700 Smetana Drive Suite 110          Minnetonka, MN 55343-9686          Phone (952) 935-9404          Toll Free (866) 935-9404          Fax (952) 935-9559          Email Info@coyandassociates.com   •  Arrange debt or equity funding, if required.   •  Continue to provide advice, as needed, after the reorganization or restructuring is complete.