Superior Cabinets

In March, 2009, BDC authorized $2 million in financing to support working capital for Superior Cabinets based in Saskatoon, in addition to providing consulting advice on the overall business strategy, operating plan, and process improvements underway. The company manufactures and provides complete kitchen solutions and other specialty millwork, serving markets primarily in Saskatchewan and Alberta.

The company was going through a period of transition following a formal succession, and had re-focused its efforts to provide stronger client solutions, serving expanded market segments. These challenges, combined with the economic decline in late 2008, had eroded the company's working capital position and limited strategic investments.

BDC Consulting was brought in to do an engagement review of the operational plan, and make recommendations on necessary improvements. At the same time, BDC financing helped the company reduce extended payables by $1.5 million and retire a temporary bulge in its operating credit. With this financing in place, another lender agreed to provide support while Superior implements its new strategic plan.