Provided Chapter 11 advisory services for this retail Fuel Distributor, a 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 fresh-start accounting for post Chapter 11 emergence.