Rapidly growing apparel brand lost financial controls while suffering from ineffective leadership and inability to attract and retain effective managers.
First as interim CFO and then as interim President, implement controls to ensure everything shipped is billed, factored receivables don’t have potential recourse, implement controls over cash receipts and cash postings; enhance financial analysis to track margin by product and by customer, hire and train new CFO; develop enhanced procedures in product sourcing and design; implement new marketing campaigns; launch new brand; hire and train permanent CEO.
Record profits for two consecutive years during transition to the permanent management system/team.
“I had no idea how much money was slipping through my fingers until Stebb came in and exposed the magnitude of the problems. Then, acting on my behalf, they came in to run the business while rebuilding its culture, fixing the control problems, continuing to grow the revenue and ultimately hiring a team of professionals that are a joy to work with. I couldn’t be more pleased with the results.”
— Current Owner