When we arrived at the company, it was tremendously indebted, the sales were not so bad; but the profit margins were very low and the fixed costs were out of control. What generated the most stress was managing the cash flow. Every week there was a choice between paying suppliers and paying banks. The fortnight that was payroll could not be paid to banks or suppliers. The process to reverse the problem took almost twelve months. We started by making a deep diagnosis, then came the decision making stage. We had to make firm decisions, take very cautious steps and
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