Interim Chief Financial Officer

$500M Home Remodeling Product Distributor


  • The company is a nationwide distributor of paint supplies, residential flooring and flooring installation supplies and tools
  • The flooring division was accumulated through a series of acquisitions and its distribution footprint consisted of 40 locations
  • Its distribution rights from OEMs did not cover entire country, so it carried multiple similar product lines regionally
  • The company made $50M investment in private label flooring inventory to create single brand for nationwide distribution


  • Created transparent reporting showing the source of liquidity issues and recurring losses
  • Implemented cash/vendor management strategies to ensure product flow of most critical SKUs and linked to 13-week cash flow and borrowing base forecast
  • Created forecast model at location level to guide operational restructuring and debt restructuring discussions, including plan to liquidate excess flooring inventory
  • Revised distribution and logistics footprint implemented to service same customers through fewer locations


  • Identified $6.5M in accounting adjustments masked by previous management team
  • Led restructuring effort to close 19 facilities and eliminate $20M in annual costs
  • Funding of these restructuring costs of $15M achieved through liquidation of excess inventory, debt service relief from lenders, and equity from owner
  • Additional liquidity provided 18-month runway to complete restructuring and rebuild sales channels during market downtime