PRIVATE LABEL FOOD MANUFACTURER
INDUSTRY – Manufacturing
COMPANY – A private label pie manufacturer making products for several national brand consumer food companies.
PROBLEM – The company had experienced a loss of a large customer, which caused their operation to dip below their break-even. Over the course of several months, this caused severe cash flow problems which prompted the bank to call their loan. In addition, trade suppliers were not paid and the company was put on COD with almost all their vendors.
RESOLUTION – We acquired the business and all the company’s assets by way of a UCC Article 9 sale. This resulted in the elimination of all trade and unsecured debt. We made corrections to systems and operations to once again get the company back to profitability and grow the company’s sales.