Court Support Case Study

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A multi-location retailer was forced to file for bankruptcy protection after a dispute with a landlord could not be resolved. After several attempts to resolve the issue and reorganize in a chapter 11 proceeding, it became clear that the business could not continue as a going concern.

The case was converted to a chapter 7, the business was shuttered, and a trustee was appointed. In an attempt to maximize value for the creditors, the trustee hired PCS as the liquidating agent. Permission was granted to reopen and operate for three weekends in order to sell inventory to the general public, a project planned and managed by PCS.

The results:

  • PCS exceeded its original projection by 2x.
  • The sale generated almost 9x the appraiser's initial value of the inventory.
  • On a net basis after expenses, 3x more cash was available for distribution to creditors.