Douglas “Doug” Neibloom started as Chief Financial Officer with Royal Senior Care in November of 2005. The office environment was visibly rundown with outdated grey cubicles on the second floor of a supermarket strip mall. The company had just acquired its 6th and 7th properties. Each were considerably sized communities of 140 and 202 units,
When Chief Financial Officer, Ben Harrison arrived at the company, their credit facility was maxed out. They had substantial amounts of uncollected receivables, angry vendors, and were heading towards violating their banking covenants. They had spent the last 13 months with a remote resource on an interim basis that did not provide mentorship, guidance, or