Case Study V

The Problem

The CFO of a public relations company had abruptly quit, leaving the company in a lurch. Financial reports to banks were overdue, and certain of the client’s debt covenants were in jeopardy of breach. Additionally, the CFO-void had led to a deterioration of the company’s cash flow situation.

The Work

A.L. Piccolo & Co., Inc., assumed the role of interim CFO for a period of 6 months, and assisted the client in a search for a permanent CFO.

The Result

The client’s situation was stabilized without any distress to its banking relations. A full-time CFO was eventually hired.