Taylor received a call from her board, “We’ve got bad news. You’re going to need to shut down your startup” Her heart sank, and her stomach tied in knots. She knew this was coming but hoped she had a few months left. “We’ve got a couple of numbers for you to call. Pick a wind-down...
Under the cold, clinical glow of his office lights, I received the call that set the next challenge into motion—a biotech firm couldn’t get another round of funding after the FDA approval failed, buried under a mountain of debt and regulatory scrutiny. The voice on the other end was Jerri, a friendly Venture Capitalist I’d...
As a Chief Restructuring Officer, I’ve guided many startups through the intricate journey of shutting down. I often get asked, “How long does it take to shut down my startup?” The truth is that it varies greatly depending on several critical factors. Let’s explore these factors and understand how they impact the timeline of a...
When it comes to winding down your startup, understanding the associated costs is crucial for an orderly and compliant closure. The expenses can vary greatly depending on the method chosen – Bankruptcy, Assignment for the Benefit of Creditors (ABC), or a direct Wind-Down. Let’s dive into what these processes entail and the likely costs involved....
As Dr. Doom, a Chief Restructuring Officer, I’ve faced many challenges, but the case of this chair company was particularly intriguing. The founder, an eccentric and brilliant architect, had combined his passion for design with the unparalleled craftsmanship of Amish artisans. Yet, his pursuit of perfection was leading the company to financial peril. It was...
In the rollercoaster world of startups, encountering unforeseen challenges that threaten the company’s existence is not uncommon. When such crises loom, enlisting a Chief Restructuring Officer (CRO) becomes not just a choice but a necessity. However, the role of a CRO is multifaceted, varying significantly based on whether they’re tasked with a company turnaround or...
The Los Angeles skyline was a blend of sleek modernity and gritty realism, much like the business ventures it housed. In a nondescript warehouse in Downtown LA, luxury and ambition hung heavy in the air, alongside the scent of high-quality fabric. This was the domain of the Newtson Brothers, a pair of fashion entrepreneurs who...
Embarking on the wind-down phase of a startup is a challenging moment. It’s a time when decisions made can significantly impact the final outcome for all stakeholders involved. Recognizing this, Ravix Group’s upcoming tool, A Guide to Interviewing and Hiring a Chief Restructuring Officer for a Wind-Down, is designed to assist founders in selecting the...
As a startup founder, you’re constantly fundraising, deciding which bills to pay – and if you should even pay yourself. You spend countless hours building a startup only to chase the dream with little result – how do you stop the cycle of never having enough cash? Can you turnaround? Or should you wind-down? Here...
In the combustible landscape of Silicon Valley startups, they call me Dr. Doom. Not a nickname I picked, but it’s stuck, and in a twisted way, I’m fond of it. To some, I’m the last phone call when the walls are caving in; to others, I’m the first step towards a fresh start. It was...
