Irvine, CA
The prolonged impact of COVID led to supply chain disruptions, increasing material, freight, and labor costs, which strained its ability to meet customer demand, impacting liquidity and operational performance. Facing technical default on its credit agreement, IVC engaged Carl Marks Advisors (CMA) to support recovery efforts.
CMA developed a liquidity forecasting process with regular updates for senior lenders, assessed and adjusted the company’s strategic plan and budget to establish realistic covenants, supported leadership transitions and employee retention during the turnaround, and enhanced operational efficiency by addressing manufacturing and supply chain challenges.