Sewer, Wastewater and Manhole Rehabilitation Construction Company
CRO & Independent Director
Construction company with operations in four states serving municipal and private clients throughout the U.S. with specialization in Sewer, wastewater and manhole rehabilitation.
Retained to evaluate the viability of the Company’s operation and upon quickly determining it was not viable, reduced costs and begin an orderly liquidation process to maximize recoveries to creditors.
Negotiated with the main secured lender for interim funding. Developed a retention program for key personnel necessary to wind down the operations.
Managed process with bonding company to safely transition management of open projects to replacement contractors, avoiding any public health impact.
Oversight of the auction process for vehicle fleet and construction equipment spread over seven locations in four States, achieving targeted recoveries during the onset of the COVID-19 pandemic.
Managed the sale of the one viable subsidiary on a going concern basis at an attractive value during the pandemic.
Negotiated with private and municipal customers and downstream sub-contractors and suppliers to maximize the recovery of accounts receivable in an accelerated timeframe.