Focus Management Group

Automotive Industry Experience

Automotive Dealership

Industry:

Automotive

Service:

Receivership

Company:

Automotive Dealership

Situation:

An automotive and truck dealership was out of trust with its senior lender and losing money at both of its locations.

Focus Scope:

The lender suspected fraud and sought the appointment of a Focus Professional to serve as Receiver to quickly liquidate the assets of the business.

Tasks Performed:

  • Assumed control of the business and implemented “24/7” security of the assets
  • Located and identified missing vehicles in the dealership’s records
  • Coordinated the sale at auction of approximately half of the vehicles
  • Oversaw the sale of the remainder of the assets.

Results:

  • As a result of the receivership, the dealership was successfully sold out of bankruptcy.
  • The lender’s recovery was higher in this case by avoiding the cost of a Chapter 11 filing.
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