As a result of the economic recession and year over year operating losses, the ownership of the Company decided it could no longer operate profitably and engaged Fort Dearborn to manage a wind down of the business with the goal of maximizing cash proceeds for the secured and unsecured creditors.
Fort Dearborn took a multi-pronged approach to maximize proceeds:
1. Market and sell profitable segments of the business
2. Identify assets that could be sold through an auction process
3. Manage working capital with the goal of maximizing cash through the wind down
4. Assist management with winding down the business