Interactive Website Developer

Phoenix acts as Bankruptcy Advisor and manages the liquidation and wind down of a interactive website developer resulting in total recovery for the senior lender.

The Client

Phoenix’s client was a $50 million Developer and Host of Interactive Websites based in Pennsylvania.

The Challenge

Due to the near total loss of its market during the tech bubble collapse, the Company’s lenders became nervous and wanted an outside, third-party expert to assess the situation and recommend an appropriate course of action.

The Solution

Phoenix Management Services conducted an operational assessment, acted in interim management roles as CEO and CFO, and concluded that the Company would require a significant cash infusion to continue in its current form. Phoenix then acted in the role of bankruptcy advisor and managed the liquidation and wind down of the business. Because of Phoenix’s actions, the senior lender saw a total recovery of its loan balance after the successful liquidation and sale of the business.

Phoenix Turnaround

Primary Industry

  • Services

Secondary Industry

  • Information Technology

    Primary Services

  • Interim ManagementBusiness / Operational AssessmentsBankruptcy AdvisoryLiquidation / Business Wind Down