Engaged by the secured creditor, Phoenix manages the liquidation of a steel fabricator exceeding the secured lender’s expectations.
The Company was a Steel Fabricator that was located in Alabama.
The Company was encountering a severe liquidity crisis and was forced to rapidly shut down its operations.
The secured creditor engaged Phoenix Management Services to manage the liquidation of the assets of the Company. Phoenix re-employed certain employees to facilitate a build-out of certain of the Company’s inventories. Simultaneously, Phoenix aggressively collected the Company’s receivables, negotiated settlements with certain third parties, and sold the majority of its equipment. When the liquidation was completed, the aggregate proceeds and net recovery exceeded the secured lender’s original expectations.
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