services for distressed companies
business wind down/liquidation
There are times when a business is beyond rejuvenation due to factors in its marketplace or resource challenges that cannot be overcome. In these instances the operations must be wound down in an orderly fashion in order to maximize value to the appropriate constituencies.
Our professionals have substantial experience in overseeing and managing the orderly liquidation of businesses, both in and out of bankruptcy. We manage the completion of work in process, if appropriate, and evaluate alternative available dispositions of inventories - sale through normal channels, bulk sale to competitors, etc. We negotiate with customers and aggressively collect outstanding receivables.
We determine the best course for recovering maximum value from all assets of the business. We approach competitors and others to determine interest in acquiring the business as a whole, or in acquiring selected assets, such as equipment, product drawings, brand names and other intellectual property. We oversee the sale of real estate, if applicable, through qualified, traditional channels.
Throughout the process we maintain an on-site presence to provide stability and order and to assure the protection of assets and preservation of their value. In addition, we maintain communications with all interested parties to keep them apprised of progress and the likely outcome. Finally, we address and resolve all business and financial issues and outstanding obligations while minimizing related expenses and disbursements.