Case Studies
J.S. Held Acquires Shechter & Everett to Expand Forensic Accounting Capabilities for Family Law Disputes in Florida
Read MoreA 50-year-old multi-channel, direct-to-consumer retailer offered a broad selection of consumer products at affordable prices through six catalogs, seven e-commerce channels, and an onshore call center.
Despite strong vendor relationships and significant customer loyalty, the Company’s revenues and profits had declined to the point of insolvency due to increased competition; rising costs of paper, shipping, and labor; supply chain challenges resulting from the COVID-19 pandemic; and other economic factors.
Our experts served as Assignee in the Assignment for the Benefit of Creditors (ABC), improving creditors’ recovery from zero to $2.5MM+ by designing and implementing the competitive sale of business assets and substantially reducing vendor claims.
Keys to the successful outcome included:
Obstacles Encountered & Our Solutions
> 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.
> Solutions for Distressed Situations
We deliver integrated solutions for distressed and insolvent businesses that maximize recovery, mitigate risk, and restore enterprise value. Our experts are retained to help distressed organizations stabilize operations, protect stakeholder interests, and execute turnaround strategies. We take an operationally-focused approach that looks beyond the balance sheet to minimize further degradation and build a path to sustainable growth.
