Blazer Fabricating

Division: Phoenix Management Services


Client

Blazer Fabricating was a steel fabricator that was located in Birmingham, Alabama.

Problem

Blazer Fabricating was encountering a severe liquidity crisis and was forced to rapidly shut down its operations.

Solution

PNC Business Credit engaged Phoenix Management Services to manage the liquidation of the assets of Blazer. Phoenix re-employed certain Blazer employees to facilitate a build-out of certain of the Company’s inventories. Simultaneously, Phoenix aggressively collected Blazer’s receivables, negotiated settlements with certain third parties, and sold the majority of Blazer’s equipment. When the liquidation was completed, the aggregate proceeds and net recovery exceeded PNC’s original expectations.