A family-owned-and-operated manufacturer and distributor that had grown significantly over the previous three years. However, the company had experienced a financial downturn due to economic conditions in combination with internal factors. Each year, the company reported profitable operations to its lender, which had extended more than $10 million in credit. However, at each year-end, adjustments applied by financial auditors resulted in the company reporting sizeable losses on its financial statements. The company’s creditors (including its lender) had grown uncomfortable and considered forcing dissolution. Hemming provided financial and strategic guidance to the company to assist it in responding to its creditors concerns. In particular, Hemming conducted a broad-based assessment of the business, which helped to uncover an inventory costing system in need of significant maintenance, and a manufacturing costing system process that had resulted in inaccurate financial statements. In the course of two months of work (including onsite visits), Hemming corrected the company’s inventory system, while also assisting the company better manage its business. Hemming’s work also included developing a financial dashboard that allowed the management team to utilize key metrics to optimize its product offerings, including assessing the price points and ultimate profitability of product lines. Due to Hemming’s expertise and knowledge of the family business gained during its advisory work, Hemming also supported the company with data analysis and counsel in the company’s successful negotiations with its creditors.