MorrisAnderson Saving a Company under Criminal Investigation


Annual Sales


in Debt

Dell's Maraschino Cherries, Brooklyn New York


$20 million Cherry Processing Operation. $6 million debt.

  • Owner caught growing Marijuana in facility by City Government Officials.
  • Owner commits suicide, leaving company with no leadership.
  • Bank concerned that situation could unravel leaving loan at risk.
  • Company negotiating with Government on settlement as well as keeping business operating.
  • Customers very concerned with situation and impact on brands.
  • All institutional knowledge was with owner.
  • All relationships with customers and vendors were with owner.
  • District Attorney is very concerned with the environmental breaches found in the company that led to the search warrant.
  • Company had relied on City grants that were cancelled.
  • Accounting records incomplete and difficult to create.
  • Bank required refinancing.


  • MorrisAnderson Principal named Chief Restructuring Officer.
  • Restructured management, creating specific responsibilities for each family member based on experiences within company.
  • Met with government officials to discuss environmental concerns. Hired Environmental Consulting Firm to perform audit and negotiated settlement with government.
  • Met with Key Accounts and Key Account Rep Groups to provide confidence that the new management team was in place and responding to needs.
  • Updated accounting policies and procedures.


  • Company maintained 95% of Key Accounts.
  • Company settled charges with DA and paid fine after refinancing of loans.
  • Company was able to refinance debt.
  • New Management Team maintaining inventory levels and succeeding in on time delivery of products.
  • Diversified management team allowed specialization of duties and did not require one individual to be responsible for all aspects of company.
  • Reduced procurement costs by 15%.
  • Accounting reports filed monthly within 20 days of month end and numbers are accurate and defensible.