You turn to Accordion.
A decision is made to divest all locations in an orderly liquidation through a series of complex divestitures, which maximizes the monetization of the enterprise. We come in as CRO and interim management and quickly perform financial and operational assessments to help evaluate strategic alternatives, ultimately determining that the ability to recover from the catastrophic turnover rates is unlikely. So, we:
- Market the various locations to select buyers, negotiate multiple term sheets, and qualify multiple acquirers.
- Establish and maintain various data rooms and manage the numerous due diligence streams for approximately 20 buyers.
- Negotiate and manage the closing of seven different asset purchase agreements, including management and preparation of asset and liability schedules.
- Proactively communicate interim progress to the independent directors (selected by the lenders), the lender’s advisors, and other stakeholders.
- Successfully manage the complicated approval process for each transaction and avoid having to execute any of the transactions in a judicial proceeding.
Once the going concern operations are successfully divested, we manage the transition of the remaining assets and liabilities to a receiver to complete the assignment for the benefit of creditors winding down the remaining corporate affairs.
Your value is enhanced.
After strategically evaluating options, developing and implementing the divestiture plan, and overseeing the orderly wind-down of the remaining enterprise, marketing sales are successfully managed and assets are divested in a streamlined manner.