Food services industry
The food services industry has grown considerably since the start of this millennium. According to the National Restaurant Association, the growth has occurred in both commercial and non-commercial operations due to a variety of factors, including: the increased availability of ethnic cuisines and healthy food items; the expanding use of technology to improve delivery and ordering systems; and a heightened consumer acceptance that dining out is an essential part of one’s lifestyle. In an industry that is continually evolving and subject to changes in consumer trends, unforeseen events can occur – such as business interruptions, business disputes, product liability, product recall, fraud and fidelity issues – that precipitate the need to determine economic losses.
For decades, MDD has quantified economic damages and served as testifying experts for insurers, attorneys, restaurant owners, food distributors, franchisors and franchisees in food services related claims.
Our experienced professionals have performed lost profits calculations and business valuations, conducted fraud & embezzlement investigations, evaluated and projected cash flows available to service debt and more. These professionals have proven knowledge of the food services industry and understand how various factors – such as seasonality, changes in economic conditions, tips received by employees, and proximity of sister/affiliated locations – can have an impact on economic damages.
On numerous occasions, MDD has provided expert witness testimony as well as other forms of litigation support for our food services clients.
MDD provides a wide range of services that include:
- Detailed review of operational and financial records
- Analysis of historical industry data to determine the impact of market conditions on profits
- Comparison of subject company performance with similar businesses in the industry
- Fraud investigations on matters that include employee dishonesty and kickbacks
- Anti-fraud risk assessments, including the evaluation of internal controls
- Expert witness testimony
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