Tura Machine Company

Division: Phoenix Capital Resources, Phoenix Management Services


Client

Tura Machine Company was a machine tool shop for aerospace and military contractors located in Folcroft, PA.

Problem

Tura’s lender, Bank of America, foreclosed on its assets, and the bank needed assistance in winding down Tura’s business and liquidating its assets in order to maximize its recovery.

Solution

Phoenix Management Services was engaged to manage the wind down and liquidation activities, which included the sale of inventory, an auction of inventory and fixed assets, the collection of accounts receivable, and the sale of two buildings. Net recovery to the Bank exceeded its expectations.