In this episode of Run the Numbers, CJ sits down with Heidi Robinson, former CFO and COO of Food52, for one of the wildest CFO stories the show has featured. Heidi joined expecting to lead a modest turnaround and within weeks realized the company was in far deeper trouble than anyone understood. She walks through being the newest executive in the room and having to deliver that news and the Monday evening a lender swept the company's cash without warning.
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SPONSORS:
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LINKS:
Mostly Talent: https://mostlymetrics.typeform.com/to/cLTxtAsN
Guest: linkedin.com/in/heidilrobinson
CJ: https://www.linkedin.com/in/cj-gustafson-13140948/
Mostly metrics: https://www.mostlymetrics.com
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TIMESTAMPS:
0:00 Cold Open
2:29 Joining Food52
3:45 Food52's Three Brands
6:14 Building a Cash Flow Model
7:25 Delivering the Worst News
8:09 A Path Without Bankruptcy?
9:05 The Cash Sweep
13:44 The Scramble
18:30 Selling at 60% Off
19:45 Working Through the Holidays
20:10 Filing Chapter 11
21:48 Chapter 7 vs. 11
23:05 The Headline Objective
23:33 The Stalking Horse Bidder
26:17 Meet the Cast29:41 Testifying Under Oath
30:50 The Independent Board Member
35:27 The Live Auction
39:06 Bidding Like Poker
40:50 The Payout Waterfall
44:24 Better Questions with EY
44:41 Rethinking Risk
46:00 CFO/COO Convergence
#RunTheNumbersPodcast #CFOs #Food52 #Bankruptcy #FinancePodcast
