Canada has a proud history of manufacturing quality and success, but, as many companies find out, the industry is facing more challenges today than ever. Globalization, for one, has increased international competition, introduced new production technologies, put downward pressure on Canadian prices and heightened exchange rate volatility. At the same time, traditional Canadian businesses have been reluctantly tempted to move their manufacturing offshore with the promise of low foreign wages and input costs.Read More
Our client (the "Company") has spent the past seven years developing cutting edge technology for the banking industry and, after filing more than 40 patents, they were ready to take the product to the marketplace.
Management had secured pilot projects with customers and were in the process of rolling out their platform to bring in significant revenues. In order to begin the pilot projects, they needed $250K (their initial ask) to manufacture the necessary equipment to deliver the technology. The business has considerable upside potential with a strong management team in place.Read More
In 2014, Kids Help Phone had been wrestling with a strategic question for over a year. Should they build a
Counselling Centre in Western Canada, in addition to the ones they already had in Toronto and Montreal? The
business executives on the board were concerned about establishing a sub-scale business unit and increasing the
overhead costs, but the management team saw an opportunity to increase Kids Help Phone’s connection with the
communities in Western Canada, furthering both their fundraising and service objectives. The board and the
management team had not yet reached alignment.
Farber provides clarity to charity on multi-year critical business decision
A national charitable organization was presented with an unconventional opportunity. A hot technology start-up in their building desperately needed more space. They asked the charity to sublet their floor. The downside was that the charity would have to move—but likely to a less expensive location. Further, the charity would have to lease two locations, a risky proposition if the start-up faltered or failed.However, if the charity relocated, given the current market conditions and rental options available, they could make more than $100,000 over the next three years.
Tabi operated a retail clothing store chain with 107 leased locations in malls in all Canadian provinces, except Quebec. Tabi’s business consists of the sale of women’s clothing and related accessories.
In January 2010, in response to financial difficulties being experienced by Tabi, its US based bankers called their loans. A private secured lender took an assignment of the bank’s debt and security and engaged Farber to assist with the restructuring of its operations.
Movie Gallery filed Chapter 11 proceedings in US, resulting in the liquidation and closure of approximately 1,200 stores across the US. Initially, little if any attention was focussed on the Canadian operations which comprised 180 stores across Canada. As all back-office functions were provided from Movie Gallery’s head office Portland, Oregon and this was being shut, an orderly liquidation of sale of the Canadian operation was required. Landlords were in arrears and the company faced significant risks of legal action by numerous landlords.
Ian Brenner, CPA, CA, Partner, Interim Management
Farber Provides Triage to Medical Clinic: Stability & Continuity Through a Period of Volatility Interim CFO Placement, Business Continuity, Improved Operations at a Full-Service Healthcare Clinic
When the CFO/Business Manager of one of Canada’s longest-operating medical clinics resigned with short notice, the executive leadership of the 75-medical professionals realized that they would soon be without their professional manager and finance leader – and the business of medicine does not stop for such setbacks.Read More
Over the last few years, the competitive landscape of the Canadian household furnishings market changed substantially, with certain companies adapting, and others not adjusting their business models in a proactive, timely manner. In late 2011, a manufacturer and distributor of “green” products filed a proposal to seek protection from its creditors. Farber’s Insolvency & Restructuring team managed this process.