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Case Studies
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Navigated business during the biggest financial crisis
Business Type: Leading fashion house
Challenge:
Global financial crisis causing liquidity challenges across markets
Rapidly changing business environment alongside reduced discretionary spending by consumers
Business on the verge of closure
Action:
Transitioned to a drop-ship model and downsized workforce from 80 to 35
Closed warehouses and rationalized office space
Secured new funding through trust-building with bankers and compliance with stringent covenants
Impact:
Balance sheet reduced by $15 mm with lower inventory and payables, and higher cash
Saved $2 mm per annum in operating expenses, across rent, people costs and other opex
Continued operations despite market instability