WILLIAM MCMANUS

MANAGING DIRECTOR

Crisis Management / Turnaround (1992 – Current)

Experience / Assignments:

Home Furnishing / Carpet – (Dec 2000 – Current), CFO/CEO

• Restructure / Reduce $150mm debt on $10mm EBITDA
• Improve Operational Performance

• Separate from Related Companies

Packaging / Foam Plates – (Sept 2000 – Jan 2001), CFO

• Evaluate Integrity of Financials / Adjustments / Re-Issue Financial Statements
• Refinance / Restructure Debt - $50mm
• Improve Cash Flow - Positive
• Shutdown Under Performing Division, Liquidate Assets

Publisher / Art & Promotional Books & Calendars – (Feb 2000 – Aug 2000), Restructuring Advisor

• Evaluate Cash Potential of Business - Negative
• Develop Alternatives – Implement (Sale of Division- Art Books, Liquidate Inventory)

Packaging / Cosmetic Glass – (March 1999 – Feb 2000), CEO

• Evaluate Viability as a Business
• Replace Management Team
• Improved Weekly Cash Flow 342%, Increased Inventory Turns 2.7 to 4.7
• 25% Adjustment to Original Acquisition Price

Capital Equipment / Surface Preparation – (March 1998 – March 1999), CFO

• Evaluate Viability of Foundry / Fabrication Operations
• Reduce Shifts, Contract Work to Sub Contractors
• Deal with Union
• Select / Install Y2K Compliant Software

Automotive / Aftermarket Brake Parts – (Jan 1994 – March 1998), CFO

• Evaluate Viability of Three Business Units
• Implement – Liquidate Distribution, Sell Automotive Aftermarket, Refinance Canada H.D.
• Two Year Impact – Improve EBITDA from a Loss of $18mm to a Positive $5mm
• Restructured Debt

Paper Conversion / Disposable Diapers – (Jan 1992 – Nov 1993), CFO

• Restructured Trade Payables Allowing Time to Implement Turn Around Plan
• Restructured Senior Debt

Work Experience 1978 - 1991:

Milton Paper Company – (April 1989 – Dec 1991), Director of Operations

• Distributor of Commercial Printing Paper

Andrew/Nelson/Whitehead – (March 1986 – Dec 1988), President & CFO

• Distributor of Art Paper and Commercial Printing Paper
• Sold Operation to a Northeast Paper Chain

ITT Rayonier – (1985 – 1986), Manager Forecasts & Operations Analysis

• Forest Products Division of ITT

Raymark – (1981 – 1985), Plant Controller/Manager Costs & Budgets/Analyst

• Automotive Brake Parts Manufacturer / Distributor

American Can Company – (1978 – 1981), Cost Accountant

• Metal Packaging

Education:

BBA – Finance, University of Notre Dame, 1978