Prepare to Re-Open

Apr 23, 2020


Start preparing now to re-open. This will be the largest economic event of our lifetimes. Strategically plan your re-opening or ramp back up.
Key Tips
Stakeholders Discussions – get ahead of there- opening and start discussions.  It is important to communicate your plans.

  • Landlords – discuss abatement, deferral, loan conversion and / or right sizing
  • Bank – Revolvers/LOC – discuss covenants, flexibility and communicate your plans
  • Mortgage/Term Debt – discuss deferral, interest reduction, payment holiday
  • Investors – discuss scheduled debt payments and or accelerate conversion to equity
  • Insurance – file business interruption claims, even though coverage possibly excluded
  • Labor – consider HR & PPP  implications and plan the pace of your return to full time employment
    • Lear has created a guide to manufacturing in a COVID-19 prevention environment
    • Click here to see Lear’s Safe Work Playbook
  • Audits – timing delay, going concern opinion
  • PPP / EIDL – include terms, payment & forgiveness in planning
As a service to our clients and network – reach out to Hardesty with your questions on PPP and EIDL loans.
If you need more help than that, contact Hardesty today and we can help you with Fractional or Interim C Suite support. We are experts in ramping up companies and critical period management.

  • Provide an experienced 3rd party re-opening plan review
  • Analyze your options
  • Develop alternative action plans
  • Navigate through stakeholder negotiations
  • Relaunch a healthier company