Workgear Manufacturer Division: Phoenix Management Services Client A $70 million revenue Workgear (knee pads, tool belts, etc.) Manufacturer based in Texas. Problem The client required a review and assessment of operations, distribution and product sourcing which included a validation of its financial forecasts and cash flow projections. Given the prevailing economic climate, rising unemployment and weakening sales levels, the Company’s senior lender was concerned about financial liquidity. The Company’s “big box” ? retail customers were themselves feeling the loss of consumer revenue. That coupled with the Company’s apparent excessive high debt load contributed further to the lender’s angst. Solution Phoenix was engaged by the Company and rapidly identified concentration risk amongst the

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