Steve Skutch
Principal
Steve Skutch began his career in the turnaround profession over 20 years ago when he was promoted to president of a distressed custom injection molding company. Through his efforts, the company returned to profitability and shed over $3 million of debt. Despite his success, however, it became apparent that the company would still be unable to service its remaining debt burden over the long term. After considering his options, Mr. Skutch decided that liquidation would serve the creditors and shareholders best. He ran the liquidation himself, recovering 100% of receivables, selling the real estate in 6 weeks, and repaying secured lenders in full.
Ever since, Mr. Skutch has provided turnaround consulting services to lenders, owners, investors and creditors of distressed and underperforming businesses. He has experience in manufacturing, financial management, negotiating manufacturing contracts, strategic planning, sales and marketing, purchasing, consultant and vendor relations, administration, recruitment, union negotiations, and human resources.
Mr. Skutch has been appointed as Receiver in over 100 cases in both federal and state courts. These cases have include operating companies, real estate developments, housing, car dealerships and others, including the much-publicized and complex case of Tony Packo’s Inc, a restaurant chain in Ohio. He has also used his experience to lead numerous successful liquidations and wind-downs.
Mr. Skutch has a BS from the University of Arizona and is a member of the Turnaround Management Association.