Public partnership with $350 million in sales and $460 million in debt formed as a roll-up of three regional firms.
Lack of liquidity.
Loan default, heavy debt burden and various litigation matters.
Delayed Chapter 11 filing by identifying accessible cash balances, strategic vendor negotiations and non-core asset divestitures.
As debtor’s senior advisor, coordinated all aspects of preparing for the Chapter 11 filing including first day motions, statements and schedules, and coordination with debtor’s counsel.
Directed operations and accounting departments in bankruptcy planning and working within Chapter 11 guidelines.
Provided many of the functions of a senior management role including business plan development, oversight on records audit, analysis of operating results with development of measures and implementation of improvements to performance.
Coordinated efforts in the development of Freshstart accounting for post Chapter 11 emergence.