Company Overview
The Company is a franchised truck dealership selling new and used tractors and trucks, in addition to related parts and accessories.
Engagement Overview
The Company and industry experienced a 20% decline in new truck demand, resulting in negative gross profits for 6 months.
Simultaneously, the Company faced issues implementing a new computer system.
The combined impact resulted in a mid seven figure loss for the year.
Fort Dearborn assisted in the strategic planning process, identifying immediate and long-term goals and the necessary action steps to achieve those goals.
The industry experienced another major decline in demand, but the Company maintained the improved gross profit margins, continue to control costs and returned to positive debt service coverage.
Results
Fort Dearborn assisted the Company in finding $1.6 million in expense reductions.
FDP assisted in improving labor and parts pricing, resulting in $1 million of profit enhancement.
Accelerated a $1 million income tax refund.