Case Studies
As assignee in an Assignment for the Benefit of Creditors (ABC) of a national outdoor furniture retailer/wholesaler facing bankruptcy, our team recovered over $10.6M for the company’s secured lender, significantly surpassing the reported orderly liquidation value, and saved jobs by:
The company was facing bankruptcy resulting from stock keeping unit (SKU) overexpansion, excessive inventory, and escalating expenses. It had defaulted on its loan covenants and lacked sufficient cash flow to meet operating costs. When management failed to remedy the bloated inventory and excessive 3PL storage fees, the company’s secured lender sought solutions to salvage the company’s strong brand reputation and customer base as quickly as possible to optimize its recovery.
Given the company’s liabilities, its secured lender wanted to explore options to call its loan to the company and pursue a liquidation of assets. Management began discussions with a liquidator who recognized the value of an ABC in achieving the company’s goals and referred our team to serve as assignee.
Key Obstacles & Our Solutions
Jake DiIorio
Managing Director,
Strategic Advisory
+1 213 235 0609
[email protected]
Cooper Plyler, CPA
Associate Director,
Strategic Advisory
+1 213 235 0610
[email protected]
> Fiduciary Services – Receivers, Assignees, Trustees
We deliver unbiased, expert solutions in court-mandated and out-of-court situations that demand a third-party fiduciary, including insolvency, fraud, litigation, and shareholder disputes. Our full-service team of financial and operational experts serve as Federal and State Receiver, Bankruptcy Trustee & Examiner, and Assignee for the Benefit of Creditors (ABC), designing and implementing recovery strategies to maximize the value for all stakeholders.
> Bankruptcy Advisory / Alternatives to Bankruptcy
When considering alternatives such as bankruptcy, you need a team with decades of experience helping leaders sitting in your exact seat to yield the best outcome for lenders, creditors, shareholders, and employees. Choosing the best path to resolve a company’s unique challenges requires detailed analyses, collaborative communication, and a complete understanding of the client’s goals and objectives.
> Strategic Advisory
From strategy to execution, we help clients overcome complex enterprise challenges and realize long-term, sustainable business value. The solutions we deliver are derived from a combination of technical, scientific, financial, and strategic expertise and unrivaled understanding of both tangible and intangible assets.