Managing Corporate Turnarounds
Summertown International:
Managing Corporate Turnaround
Abdoullah Albizreh, Wassim, Cathal
17th April 2013 | |
1.0 Executive Summary 3 2.0 Introduction 3 3.0 Corporate Structure 3 3.1 Summertown Joinery 4 3.2 Dubai and Abu Dhabi Branches 4 3.2.1 Fit Out (Dubai and Abu Dhabi) 4 3.2.2 Turn Key (Dubai and Abu Dhabi) 4 4.0 Organic Growth of Summer Town 5 4.1 Financial Growth of Summer Town 5 5.0 Financial Crisis 2008 and regional Impact 6 6.0 Analysis of factors contributing to decline 7 6.1 Financial Structure and realising the problems 8 6.2 Financial Distress 8 7.0 Establishing a new Business Plan 9 8.0 Analysis of the Turnaround 9 8.1 Taking control 10 8.2 Cash management 10 8.3 Emergency cash management 10 8.5 Negotiate with suppliers and creditors 11 8.6 Asset reduction 11 8.7 Cost reduction 12 8.8 Stakeholders Support and Communication 14 9.0 Leadership 14 9.1 Change in Management 15 9.2 Communication with the Staff 15 10.0 Will the Turnaround be successful? 16
1.0 Executive Summary
To be completed at the end of the report.
2.0 Introduction
This report identifies the turnaround process of Summertown, a Dubai based, bespoke joinery firm which had rapidly expanded to an exclusive interior design and turnkey contractor during the construction boom of 2002 – 2008. Following the global financial crisis Summertown experienced financial distress and is currently going through a turnaround to ……………….. To be completed at the end of the report.
3.0 Corporate Structure
Figure 1 illustrates the corporate structure of Summertown with has three independent divisions with independent management teams. The Company has grown organically from the joinery division where the description of each activity and time line is listed below
Figure 1 - Corporate structure Summertown
3.1 Summertown Joinery
Summertime Joinery, established in 1996 and over 15 years of experience in
Managing Corporate Turnaround
Abdoullah Albizreh, Wassim, Cathal
17th April 2013 | |
1.0 Executive Summary 3 2.0 Introduction 3 3.0 Corporate Structure 3 3.1 Summertown Joinery 4 3.2 Dubai and Abu Dhabi Branches 4 3.2.1 Fit Out (Dubai and Abu Dhabi) 4 3.2.2 Turn Key (Dubai and Abu Dhabi) 4 4.0 Organic Growth of Summer Town 5 4.1 Financial Growth of Summer Town 5 5.0 Financial Crisis 2008 and regional Impact 6 6.0 Analysis of factors contributing to decline 7 6.1 Financial Structure and realising the problems 8 6.2 Financial Distress 8 7.0 Establishing a new Business Plan 9 8.0 Analysis of the Turnaround 9 8.1 Taking control 10 8.2 Cash management 10 8.3 Emergency cash management 10 8.5 Negotiate with suppliers and creditors 11 8.6 Asset reduction 11 8.7 Cost reduction 12 8.8 Stakeholders Support and Communication 14 9.0 Leadership 14 9.1 Change in Management 15 9.2 Communication with the Staff 15 10.0 Will the Turnaround be successful? 16
1.0 Executive Summary
To be completed at the end of the report.
2.0 Introduction
This report identifies the turnaround process of Summertown, a Dubai based, bespoke joinery firm which had rapidly expanded to an exclusive interior design and turnkey contractor during the construction boom of 2002 – 2008. Following the global financial crisis Summertown experienced financial distress and is currently going through a turnaround to ……………….. To be completed at the end of the report.
3.0 Corporate Structure
Figure 1 illustrates the corporate structure of Summertown with has three independent divisions with independent management teams. The Company has grown organically from the joinery division where the description of each activity and time line is listed below
Figure 1 - Corporate structure Summertown
3.1 Summertown Joinery
Summertime Joinery, established in 1996 and over 15 years of experience in