Role: Receiver
Client: Michigan Circuit Court
Business Description: Retail (Macomb County, Michigan)
- Car Wash
- Related Strip Cntr.
Critical Issues:
- Car wash had significant negative cash flow
- Serious quality control issues
- Employee theft
- Management theft
- Substantial deferred maint. and broken equipment
- Run-down appearance
- Removed individuals taking money from premises
Resolution:
- Quashed foreclosure of junior lender
- Repaired equipment
- Added “curb-appeal” to landscaping and building exterior
- Implemented standard maint program
- Implemented standard policy, procedures & work rules
- Implemented daily reports and systems to prevent employee theft
- Sold to strategic buyer
Have a similar situation?
Fill out the form below and we’ll contact you to see how we can help.