The only team ranked by Chambers Globalas the #1
restructuring practice in Canada for the thirteenth year in a row.
We are the right team to have on your side to consider and
explore all strategic alternatives. To find out how we can assist
you with your matters, contact any of our Corporate
Restructuring Partners at 416.979.2211.
For 1 years, Canada’s #1 ranked restructuring practice.
there is time to test and measure the
effectiveness of the facelifts. But, if
the remodeling program is begun late
and the effort turns out not to provide
enough of a sales lift, it is simply a very
expensive, liquidity draining exercise.
In summary, a struggling retailer’s
focus should be on speed and the
product offering. Then, consistent
with those two priorities, the
retailer should consider:
1 Do we know our core customer?
2 Is the merchandising team the right team?
3 Is there a cultural resistance to change?
4 How can we instill an attitude that “everything is on the table?”
5 Have we analyzed the expense structure effectively and not
simply cut costs?
a. Are the cuts in corporate
overhead deep enough?
b. Are inventory reduction and
allocation strategies smart?
c. Is the allocation of marketing
d. Is a smart and timely
plan in place to address
Retail is tough, but there are enough
case studies both to enhance
the likelihood of success and to
avoid repeating mistakes that
hurt the chances for survival for
unsuccessful retailers in the past. J
Steve Moore is principal with Tortola Advisors,
a Nashville-based advisory firm. He has served
in a variety of senior executive roles, including
CEO, CRO, and COO for companies such as
Movie Gallery, JJB Sports, Friedman’s, and
Service Merchandise. Currently, Moore is serving
as interim CEO for a software company.