Chapter 14 - What the Books Actually Said
Theo had cleared a bench for a meeting with the department leads. Alicia brought the order book. A production manager named Ben brought payroll schedules and lists of overdue tools. No one had brought a speech.
Nathan hadn't invented the atelier's troubles. Rent for the flagship showroom had risen sharply. The online operation consumed cash without producing consistent profit. Two collections had failed, and our lender had warned the board about a covenant breach if revenue fell further.
“But the workshop earns money when we finish orders on time,” Alicia said. “Nathan diverted people to private showcases that didn't pay.”
Ben showed me the work orders. He also showed me the overtime costs and materials wasted when designs changed after fabrication began. Responsibility was shared between bad leadership and an old business model Mother had refused to update.
“Could we keep the workshop and sell only the retail leases?” I asked.
“Maybe,” Ben said. “But that's months of work, and rent is due now.”
For three hours we marked realistic expenses on a whiteboard. We could reduce showroom spending, pause one risky collection, and negotiate extensions with suppliers. It would still leave a cash gap. I offered to suspend distributions on my shares and place a limited personal contribution into a company-approved bridge plan. I could not simply write a check big enough to save everyone.
“Why should we trust you?” Alicia asked.
“I don't think you should,” I said. “You should get the actual numbers, an independent assessment, and a say in any plan that changes your jobs.”
Theo watched me for a long time. Then he pulled a stool beside mine and began crossing out assumptions.
Late that afternoon Esther told us a prospective retail operator was interested in leasing two storefronts and carrying Vale Atelier products on a wholesale basis. It was not a signed agreement, and the terms might be bad. But it was a possibility worth negotiating.
Nathan dismissed the proposal at the next board call.
“Emma's fantasy doesn't pay the debt,” he said.
I was tired of letting his certainty sound like expertise. “Then show us how your sale protects the workshop.”
He produced the buyer's draft. In the fine print was permission to move fabrication to any approved contractor after one year, with no obligation to retain our apprentices.
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Nobody spoke for several seconds.
For the first time, the board asked Nathan to leave the call while it reviewed his conflict of interest.
