Case Studies
J.S. Held Acquires GLI Advisors, Strengthening Our Construction Project Support Services in the Western US and Hawaii
Read MoreThe company was struggling as a result of the economic downturn, with depressed cash flow and accounts payable issues. An investment banker was hired by the business owner, who was also a creditor to the company, to sell the business. The company’s unsecured creditors were suppliers motivated for the business to continue as a going concern.
Recognizing he lacked sufficient independence, the investment banker recommended our experts to the owner to ensure an arm's-length transaction for the company’s creditors. We quickly identified an ABC as the best process.
Our experts successfully sold a custom cabinetry manufacturer suffering chronic cash flow problems and near bankruptcy to a strategic buyer in an Assignment for the Benefit of Creditors (ABC). This paid the secured creditors in full with the proceeds and administered a claims process for unsecured creditors that returned approximately 5% of accounts payable on a pro-rata basis.
Some key problems and solutions our team assessed included:
David Stapleton, CPA, CLPF
Senior Managing Director
Strategic Advisory Practice
+1 213 235 0601
[email protected]
> Assignment for the Benefit of Creditors (ABC)
As Assignees, our financial and operational experts leverage extensive restructuring experience to liquidate assets and quickly maximize proceeds for creditors while mitigating liability and preserving jobs. Our team serves as the distressed business’s de facto CEO and CFO, taking control of operations; managing creditors, employees, and litigation; preparing for and executing the sale of business assets; and distributing proceeds to creditors pursuant to priority.
> Chief Restructuring Officer (CRO) and Interim Management Services
Our experienced C-suite interim executives advise and support companies in financial distress, experiencing hypergrowth, or that are challenged by critical vacancies among senior leadership. Whether the leadership void results from operating challenges, a recent officer resignation, the need for added support during busy periods, or during an extended job search for the right permanent hire, our experienced executives provide immediate relief and value.