A team from AEG recently assisted two southwest-based universities looking to merge in order to strengthen their overall financial position. One of the schools had multiple facility leases in place, which as currently structured would have prevented the combination. Working closely with the management team of both schools over a number of months, AEG developed and negotiated a consensual lease buyout with each of the impacted landlords, clearing the way for the merger to close on time and on budget.
Accordion has enhanced its healthcare restructuring offering with the addition of practitioners from ToneyKorf Partners, a healthcare-focused turnaround and restructuring management and advisory firm. Accordion has deep experience helping healthcare CFOs drive value creation through levers including cash flow forecasting, liquidity management, performance visibility, close process acceleration, supply chain efficiency, IT modernization, tech-stack enhancement and RCM automation. Our new team members expand and complement Accordion’s existing turnaround, restructuring, and other capabilities in the sector.
Led by member Michael H. Traison and attorney Michelle McMahon, Cullen and Dykman’s Bankruptcy and Creditors’ Rights department is pleased to announce that the firm has been selected to represent the Official Committee of Unsecured Creditors of Midwest Christian Villages Inc. , et al. pending in the Bankruptcy Court in the Eastern District of Missouri. Michelle and Michael are both highly experienced in representation of committees of creditors in cases around the country. Creditors’ committees in chapter 11 cases represent the interests of the unsecured creditors.
The debtor in the 99c Only Stores’ Chapter 11 bankruptcy case engaged Hilco Real Estate to complete valuations on 44 owned properties as well as to market and sell its owned and leased real estate. Under tight time constraints, HRE tailored a nationwide marketing program and executed a multi-phased sale culminating in an auction, where all 44 owned properties were sold for $144M, in addition to the disposition of nearly 200 leases generating over $25M in proceeds.
HyperAMS has continued 2024 with a strong portfolio of auction and liquidation activity. Through proactive marketing HyperAMS sold the complete plant of stretch film manufacturer Zummit Plastics to a single buyer. Other successful auctions included a modern vegetable processing and packaging plant; trucking business Quality Transportation; and precision metal stamping/fabrication business The Line Group. HyperAMS has at least nine upcoming auctions on our calendar, with more being added regularly. Upcoming projects include the complete plant closure of well-known furniture manufacturer Trendway and a turnkey sale opportunity of plastics recycler Butler MacDonald. HyperAMS also continues assisting in the inventory liquidation of industrial supplier Bostwick Braun.
Republic Business Credit recent fundings: $15,000,000 ABL Loan for Gulf Coast based food manufacturing company with a seasonal accordion up to $20,000,000. Additionally, $4,000,000 ABL loan for a Chicago based beverage manufacturing company, $3,500,000 Traditional Factoring Facility for a west coast women owned apparel brand and a $1,000,000 factoring facility for a California based natural food and snack brand.
Creative Planning Business Services, a leader in turnaround services and consulting, has won the TMA 2024 Minnesota Chapter Mid-Size Transaction of the Year Award for its work with Element LLC, a 70-million-galllon ethanol. As a receiver, Creative Planning Business Services executed a going concern sale for $44 million dollar sale and preserved all jobs. The project was led by Chris Tomas, Keith Carpenter and Dan Turnquist. This marks Creative Planning’s third award in four years, highlighting the firm’s expertise in managing complex transactions.
Sky Business Credit announces a $3MM A/R facility for a Wholesale Electronics company based in Dundee, IL, referred by a commercial banker. The company faced funding challenges that threatened its ability to fulfill substantial purchase orders from a large warehouse retailer. Sky’s diligence and flexibility enabled our client to produce and ship the full $4MM worth of product by the contracted shipping deadline. Read more at skybusinesscredit.com.
