Industry
Entertainment & Publishing
Region
Canada & USA
After several years of heavy losses, the owners of a Canadian publisher demanded a fundamental change of the business model. Following the purchase of the company by a European publisher, PRISMA was engaged to restructure the organization in North America.
Initial viability analysis made clear that, without immediate changes, the company was in serious trouble and could not secure sufficient financing.
We developed an aspirational turnaround plan with well-defined stretch targets, and were then appointed by the parent company as interim top management (President and CFO) to restructure the North American company.
Our main activities were:
- Working with lenders and stakeholders to secure liquidity
- Managing the organization according to the aspirational plan
- Assessing and restructuring the management team
- Reducing overheads through headcount reduction and process improvements
- Improving cash flow
- Consolidating international subsidiaries
- Extending sales to previously unserved channels
- Shifting the marketing focus to other game platforms and product groups
- Improving procurement to maximize purchase discounts and rebate programs
The company turned profitable in the first year and, after two years of our engagement, is back to sustainable profitability.
Industry
Retail
Region
Austria
Strategic and operational restructuring of a major Austrian retail group.
Together with consultants from McKinsey, formulated and implemented a strategy that refocused the company on its core business, updated the product mix and outlet structure, and cut costs by reducing overheads and shortening the logistics chain.
The group then merged with a major international retail group and an Austrian retail chain.