Sugi  Hadiwijaya

Sugi Hadiwijaya

Managing Director | Partner

Sugi Hadiwijaya has more than 20 years of combined experience in financial services and turnaround management, assisting companies with tasks such as cash management, securing of financing, business plan assessment, M&A activities, and financial modeling in multiple industries.

Sugi previously served as a Senior Vice President for the turnaround group at Deloitte (Deloitte CRG) where he led engagement teams and managed daily client interactions and negotiations with stakeholders.  He authored Cash is King, Deloitte CRG's training program on cash flow forecast and liquidity management. He has published numerous articles, been interviewed and spoken on panels on liquidity management and turnaround matters. In addition, Sugi leads university relations outreach for Turnaround Management Association (TMA), where he cultivates relationships and develops educational workshops with local universities. Sugi is fluent in Indonesian and proficient in Chinese.

Representative Experience
  • Adjunct Chief Restructuring Officer (day-to-day partner in charge) for Buca di Beppo. Managed corporate functions, cash/liquidity and day-to-day operations during Chapter 11 proceeding, including creating full sets of corporate overhead functionalities when Buca was spun off from the former parent organization.
  • Interim Chief Financial Officer of Garden Fresh Restaurants LLC, a 98 location CA-based restaurant chain.
  • Financial advisor for One Table Restaurant Brands, a dual-brand, high-end casual dining concepts in West Coast. Conducted operational assessment after COVID-19, including site visit assessment, four-wall unit economics analysis, portfolio benchmarking. Second phase included bankruptcy advisory services for Chapter 11 proceeding in Delaware.
  • Lender advisor for a regional multi-concept restaurant based in Southwest. Works performed include four-wall analysis review, relationship and shared services assessments across portfolio, and franchising strategy.
  • Financial advisor to Ruby Tuesday, Inc. Negotiated financing and executed successful restructuring through Plan of Reorganization in a Chapter 11 proceeding.

Sugi Hadiwijaya's Insights & Articles

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Due Diligence in Restaurant Space
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Due Diligence in Restaurant Space

Dallas-based Partner Sugi Hadiwijaya recently teamed up with Dalton Potts at NRD Capital on a podcast highlighting topics of due diligence in the restaurant space. Listen to the full podcast brought to you by AICPA's Forensic and Valuation Services Section.

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Managing the Insource/Outsource Mix within a Restaurant Environment
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Managing the Insource/Outsource Mix within a Restaurant Environment

Ensuring every detail throughout the customer experience, as well as the back office, is executed according to a specific vision can lead to success, but it often means taking on functions internally that the business is not well-positioned to execute, or outsourcing functions that are best performed in-house.

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Why Restaurant Data Analytics are a Necessary Tool for Success
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Why Restaurant Data Analytics are a Necessary Tool for Success

Partner, Sugi Hadiwijaya and OverlayAnalytics' Founder and CEO, Bryan Shupe, discuss how similar to challenges around kitchen management, data challenges are multi-faceted, from data compilation and interpretation, to conversion and utilization, and cultural integration with Nation's Restaurant News.

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Value Creation Based on Two Factors: EBITDA/Cash Flow and Capital Structure
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Value Creation Based on Two Factors: EBITDA/Cash Flow and Capital Structure

Dallas-based Partner Sugi Hadiwijaya and Vin Batra discuss the value creation for private companies in respect to two factors: EBITDA/cash flow and capital structure.

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Learn How Fraud and Valuation Matters are Handled During Bankruptcy
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Learn How Fraud and Valuation Matters are Handled During Bankruptcy

Dallas-based Partner Sugi Hadiwijaya recently teamed up with Jermaine Watson at Bonds Ellis on a podcast highlighting basic aspects of how fraud-related matters are managed in a bankruptcy context. Listen to the full podcast brought to you by AICPA's Forensic and Valuation Services Section.

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Lenders as Accidental Restaurant Owners: Four Success Factors of Temporary Restaurant Ownership
Article

Lenders as Accidental Restaurant Owners: Four Success Factors of Temporary Restaurant Ownership

During COVID-19, a significant amount of restaurant bankruptcies saw the lenders taking over the assets when no qualified buyers came to the table. Now that these lenders have become temporary restaurateurs.

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Project Work

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Quick Service Franchise Operation

Quick Service Franchise Operation

The company was a $120MM quick service franchise operation that breached its covenant due to declining sales and hired CR3 Partners to assess its business plan.
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Ruby Tuesday

Ruby Tuesday

The company was a $300MM private equity-owned casual dining restaurant that experienced sales declines due to industry trends and the COVID-19 pandemic, forcing the company to file for Chapter 11 bankruptcy to reorganize.
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JCPenney

JCPenney

JCPenney is a publicly traded company with 846 corporate locations and 12B in annual revenue that elected to file Chapter 11 bankruptcy due to COVID-19 shutdowns, C-suite turnover, and changes to the business and merchandising plans.
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