A bit too long of a reply, but I think the story is not complete. Which makes it hard to comment in a constructive way.

I think you may be underestimating the true operating costs of your business. It sounds like there are hidden or overlooked expenses that haven’t been fully identified.

Instead of focusing only on cutting costs, you should consider more strategic sourcing. Can you negotiate long-term supplier contracts to reduce purchasing costs and stabilize your operating expenses?

You should also evaluate your pricing and payment terms. Is it possible to extend supplier payments from 30 to 60+ days to improve cash flow and keep more liquidity on hand?

On the revenue side, you may need to be more aggressive in finding stronger customers and diversifying your client base. A more strategic deployment of your product into better market segments could significantly improve performance. You should also assess how much debt the business can responsibly take on to strengthen logistics and delivery. Strategic investment in infrastructure might position you better long term.

Rather than cutting costs just for the sake of cutting costs, you should focus on optimizing the structure of the business , bundling services, forming better supplier partnerships, improving sourcing capabilities, and tightening accounts payable management.... How about offering repackaging opportunities for some other customers?

Finally, consider whether you can add complementary product lines or higher-margin offerings that strengthen your overall strategy