The restaurant industry has been hit hard in recent years due to COVID-19, a tight labor market and sky-high food costs. In some cases, hiring professional management and implementing state-of-the-art technology has backfired. It is not surprising that many restaurant operators are in need of a turnaround. Fortunately, our guest, Mark Byars has many years of experience in turning around restaurants and other businesses.

The following are among the issues discussed during this highly informative podcast:

• How should agreements with CEOs be crafted to incentive CEOs while providing owners with the ability to remove CEOs if results deteriorate dramatically?
• How has technology proven to be counterproductive in some restaurants?
• How should par sheets be managed when ordering inventory?
• What are some instances of fraud occurring at restaurants?
• How can multiple similar liens be placed on the same assets?
• How can restaurants manage the “down times”?
• How should restaurants manage their relationships with banks and landlords?

Guest Speaker:   Mark Byars is a Managing Director at Sonoran Capital Advisors. In the past, Mark has worked as CFO/Controller/VP of Finance for several private companies including Paramount Building Solutions, Peekay, Inc., Grayhawk Produce Sales, Primetime International, and Enlisten Corporation. Mark is experienced in distressed situations, litigation, and bankruptcy processes and has advised companies in a variety of industries during and after restructurings, mergers and acquisitions, and bankruptcies. An Arizona native, Mark is a graduate of Arizona State University where he received his BS in Finance and MBA degrees. He is a registered CPA in Arizona and is also certified in government contracts and accounting.