Situation overview
This situation typically arises when a business is under visible pressure and confidence has begun to erode.
Performance may be slipping, cash may be tightening, or delivery has become inconsistent. Leadership teams are often working hard, but without clear prioritisation or an effective operational rhythm. Stakeholders sense drift, even if the underlying business remains viable.
I am usually brought in at this point to help stabilise what matters first, restore operational grip, and create the conditions for forward momentum. The work is focused on clarity, sequencing, and action, rather than analysis for its own sake.
What this situation often looks like in practice
While each business is different, common characteristics include:
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Increasing management reactivity and short-term firefighting
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Blurred priorities and inconsistent execution
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Leadership bandwidth stretched beyond what is sustainable
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Cash or working capital pressure creating urgency
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Reduced confidence from boards, lenders, or investors
- The immediate risk is not just performance, but loss of credibility and control.
Selected Case Studies
Turning boardroom tension into calm, constructive progress
Context
A high-growth portfolio company backed by a specialist lender had reached a critical inflection point. Strong historic demand had driven rapid expansion, but operational discipline had not kept pace. Margin erosion, rising costs, leadership change, and delivery inconsistency were beginning to undermine confidence.
Headline growth remained strong, but the gap between revenue and performance was widening. The board sensed that something was wrong, yet discussions had become tense and unproductive. Previous attempts to challenge management had stalled.
NorthCo was engaged to provide independent operational insight that could support a constructive board discussion and give management a clear, commercially grounded path forward.
My role
I was asked to conduct a pragmatic, evidence-based operational review that would serve two purposes:
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Provide the lender and board with an objective, operationally informed view of the business
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Equip management with a credible stabilisation and recovery plan
Crucially, the work needed to replace friction with fact and allow difficult issues to be addressed without confrontation.
What mattered operationally
The review focused on four core areas: operational effectiveness, cost structure, leadership capacity, and strategic focus.
The findings showed a business carrying too many major initiatives at once. International expansion, system changes, leadership transition, and ongoing delivery demands had stretched capability and diluted focus.
Leadership strain was evident. Both the CEO and COO were relatively new, under-supported, and operating without the depth of experience typically required at this stage of scale. Cost escalation had followed growth, with senior pay and discretionary spend outpacing contribution.
Operational rhythm had weakened further due to the absence of a central hub. Remote working without sufficient structure had undermined cohesion, accountability, and pace. International expansion, particularly in Spain, was absorbing disproportionate time and capital for limited return.
None of these issues were fatal. But together, they explained the growing gap between effort and outcome.
Outcome
The review produced a clear, pragmatic roadmap to stabilise the business and regain control. Recommendations focused on simplifying operations, reintroducing operational rhythm, tightening cost discipline, and providing targeted leadership support rather than dramatic overhaul.
The report enabled a high-quality board discussion grounded in evidence rather than assertion. Management gained clarity on priorities and sequencing, while the lender was able to engage constructively without escalation.
The immediate result was calmer governance, sharper focus, and a shared understanding of what needed to change to restore confidence and momentum.
Emergency interim leadership to stabilise a business during insolvency
Context
An insolvency practitioner was appointed to manage a distressed business facing imminent operational collapse. Financial failure had been compounded by weak operational oversight, falling morale, and growing concern over the security of key assets.
The immediate priority was to stabilise the business, safeguard value, and maintain operational continuity while insolvency proceedings were underway.
NorthCo was engaged to provide rapid, hands-on interim leadership and act as a safe pair of hands on the ground.
My role
Within 48 hours, I deployed an interim leadership team to work alongside the insolvency practitioner.
The remit was clear: secure assets, restore operational control, stabilise the workforce, and create the conditions for a managed process that preserved value for creditors and stakeholders.
What mattered operationally
The situation required decisive action rather than analysis.
There was immediate risk of asset loss, deteriorating staff engagement, and operational failure. Trust between management, employees, suppliers, and creditors had broken down.
The priority was to establish visible authority, reintroduce structure, and create confidence through action. This included securing high-value assets, reinstating basic operational controls, and introducing a daily management rhythm to keep critical functions running.
Stakeholder management was equally critical. Clear, transparent communication with suppliers, creditors, and customers helped stabilise relationships and prevent further erosion of value.
Cash control was tightened rapidly in coordination with the insolvency practitioner, ensuring that trading could continue in a controlled and disciplined manner.
Outcome
The business stabilised within the first few weeks of intervention.
Assets were secured and protected, operational continuity was restored, and employee morale improved as clarity and leadership returned. Supplier and creditor relationships were stabilised, allowing the business to continue trading during the insolvency process.
Most importantly, value was preserved. The stabilised platform enabled the insolvency practitioner to pursue a managed sale, protecting outcomes for stakeholders and avoiding unnecessary destruction of value.
Interim CEO-led turnaround of an £18m direct-to-consumer sports brand
Context
An £18 million online direct-to-consumer sports brand had entered a period of serious underperformance. Despite strong brand recognition and customer demand, the business was operating at a £500,000 loss.
Operational control had weakened, customer service standards were deteriorating, and banking support was at risk of being withdrawn. The founder recognised that the business required decisive, experienced leadership to stabilise performance and reset execution.
I was engaged initially to diagnose the issues and subsequently appointed as Interim CEO.
My role
I led a rapid two-week operational review to establish the true causes of underperformance, working closely with the founder and senior team. Following this, I took full interim CEO responsibility for stabilising the business, restoring control, and leading the turnaround through execution.
What mattered operationally
The issues were not strategic ambition or market demand. They were operational.
Roles and responsibilities across the management team were unclear, leading to duplication, gaps, and slow decision-making. Stock control and buying discipline had broken down, tying up cash and undermining availability. Marketing activity was disconnected from sales reality. Customer service performance had deteriorated, eroding trust and increasing churn.
Critically, the business lacked operating rhythm. There was no consistent cadence for performance review, planning, or accountability. As a result, problems were spotted late and reacted to poorly.
Actions taken
The immediate focus was on restoring operational grip.
Clear role ownership and accountability were re-established across the leadership team. Stock management and buying controls were tightened and aligned with demand. Marketing activity was reset to support commercial priorities rather than vanity metrics. Customer service processes were stabilised and improved.
A structured operating cadence was introduced, including weekly, monthly, and quarterly performance reviews supported by Sales and Operations Planning. Clear KPIs were embedded across functions, and a disciplined communication rhythm ensured alignment and follow-through.
Alongside this, I worked directly with the founder and senior team to strengthen leadership capability and decision-making under pressure.
Outcome
Over a two-year period, the business moved from a £500,000 loss to £2.5 million of EBIT. Operational efficiency improved materially, management confidence was restored, and customer satisfaction recovered.
Bank confidence returned quickly as execution improved, removing the immediate funding risk. The business was subsequently sold for £22 million, validating the turnaround and the operating platform put in place.
Additional relevant work
Additional stabilisation and recovery work includes:
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Independent stabilisation support for lender-backed businesses facing covenant pressure and deteriorating trading performance.
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Short-term interim leadership support to re-establish operational rhythm, prioritisation, and decision-making.
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Operational assessment for a PE-backed manufacturing business facing stalled growth, leadership disengagement, and emerging covenant risk. Work stabilised performance, restored confidence, and created the platform for leadership transition and recovery.
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Independent operational review for a lender-backed business experiencing declining profitability, leadership transition, and rising complexity. Work focused on assessing viability, stabilising operations, and defining a realistic recovery path grounded in operational discipline.
Trust and context
This work is typically undertaken alongside boards, lenders, and investors, often in situations where time, credibility, and judgement matter more than presentation.
He’s now considered Harwood’s ‘go-to’ operator for this work across the whole group portfolio.
Trevor came strongly recommended by a former colleague. Harwood parachuted him into a business in which the leadership team, previously reporting to family owners for over 40 years, were struggling to adapt and move at the pace required by an institutional investor whilst dealing with a softness in demand arising from the 2022-3 UK cost of living crisis. Trevor’s deep operational skill set, and strong people management capabilities resulted in him identifying the root cause of multiple internal challenges (poor control of direct and indirect costs coupled with lack of focus on working capital and cash management) and draw up a short-term plan – which the whole management team supported – to deliver an improvement in near term results. Trevor identified weaknesses in the leadership team and has proved very helpful, by way of example, in sourcing a very experienced Interim CFO to strengthen financial control. Trevor is a strong communicator – it was a pleasure working with him, and he kept us updated on progress at every stage. We have no hesitation in recommending you seek Trevor’s leadership and support with any change management/turnaround project – indeed, he’s now considered Harwood’s ‘go-to’ operator for this work across the whole group portfolio.
Jerry Wilson – Partner – Harwood Capital