The Company is a road-building contractor with the State's Department of Transportation ("DOT") as its primary customer. It also sells ready-mix concrete to customers located near its headquarters and ready-mix plant. During non-construction season, the Company provides commercial snow removal services.

The Company is family-owned, with the 3rd and 4th generations active in day-to-day operations and decision-making.

The Company engaged Fort Dearborn Partners, Inc. ("FDP") to review and adjust its 13-week cash flow and financial forecast. FDP also identified opportunities to improve the Company's profitability and cash flow.

The Company generated $3.65M of net income the previous year on $62M of revenue.  For the current year, the Company had forecasted a net loss of $5.2M on roughly $25M in revenue.  Additionally, the Company expected negative cash flows of approximately $1.7M from September through December, and management anticipated potential cash needs exceeding $4M through April the following year, with limited availability to borrow additional cash from their lender.

FDP prepared a 13-week cash flow to identify the extent of the cash burn. Additionally, FDP worked with management to immediately reduce expenses and negotiate contract dispute settlements, resulting in nearly $2.5M of immediate cash inflows. Management negotiated 6-month lease payment deferrals, resulting in a $200 thousand to $300 thousand reduction in near-term cash disbursements.

Finally, FDP worked with management on PPP loans and rounds 1 and 2 of the Employee Retention Tax credits (ERC), which boosted cash flows.

Entering the following construction season, the Company was well positioned with roughly $2M in cash and nearly $6M in borrowing availability.

The Company anticipated generating positive cash flows the following fiscal year through continued expense reduction.