Case Study: Alvaria achieves a successful cash-flow restructuring with AlixPartners

Aspect Software - Customer Case Study

Alvaria, then operating as Aspect Software, faced a critical cash crunch as its business shifted from on-premise software to cloud-based delivery. The changing payment timing, seasonal cash-flow swings, and looming debt obligations put the company at risk of failing to meet normal operating needs, prompting the board to seek help from AlixPartners.

AlixPartners stabilized cash management by building a credible cash forecast, tightening spending controls, and helping prepare a prearranged Chapter 11 restructuring. The plan reduced debt by more than $300 million, cut interest expense by nearly $30 million, and lowered leverage from more than 8x to 4x equity, enabling the company to emerge from Chapter 11 in just 77 days and continue its transition to the cloud.

Alvaria